MuniMae has admitted the final investors into two tax credit funds, raising nearly $420 million from 16 corporate investors, according to the Baltimore-based investor in multifamily mortgage debt and equity.MuniMae said $352 million was raised through a nonguaranteed multi-investor fund (ITC 30) and $67 million was raised through a guaranteed fund structure (MMA Financial Guaranteed Affordable Housing Fund 2005-3). The proceeds will be used to help finance 57 multifamily properties in 24 states, the company said. MuniMae can be found online at http://www.munimae.com.
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