Related Cap Closes $254M LIHTC Fund

Related Capital Co. has closed a $254 million multi-investor corporate tax credit fund consisting of investments in Low Income Housing Tax Credits, according to Related Capital's New York-based parent company, CharterMac.The fund, Related Corporate Partners XXVIII LP, is the third multi-investor corporate tax credit fund closed by RCC this year and brings the total equity raised by the company to over $1.1 billion for the year, CharterMac said. The latest fund, with LIHTC equity investments in an estimated 25 properties across the country, was sold to six institutional investors. The parent company can be found online at http://www.chartermac.com.