Municipal Mortgage & Equity, Baltimore, has closed a tax credit equity fund, raising $319 million from 16 corporate investors, the multifamily financing company reports.The proceeds from the fund, which the company said is its largest tax credit equity fund so far, will be used to finance 61 affordable multifamily properties nationwide. Michael L. Falcone, president and CEO, MuniMae, said that "the closing of this fund signals a continuing strong demand for our tax credit equity funds, and we are looking forward to another great year in 2005."

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry