Real Estate
Home›Real Estate›Industry›Greystone Real Estate Capital closes $137M affordable…
Greystone Real Estate Capital closes $137M affordable housing fund
The fund is set to support development and preservation of nearly 2,000 affordable units across 20 properties in nine states, with equity split between new construction and rehabilitation.
Greystone Real Estate Capital has closed its second affordable housing fund, Greystone Affordable Housing Fund II, securing $137 million in Low-Income Housing Tax Credit, or LIHTC, financing from multiple investors, according to Commercial Observer.
The new fund will help develop and preserve nearly 2,000 affordable housing units across 20 properties in nine states. Commercial Observer reports the fund’s equity will be allocated with 60 percent toward new construction and 40 percent toward rehabilitation.
Fund II follows the earlier launch of Greystone Affordable Housing Fund I, which closed in August 2025 with about $105 million of institutional investor equity. Commercial Observer says Fund I has since invested in development and preservation for almost 1,000 affordable housing units across 11 projects.
Commercial Observer reports the Fund II closing drew capital from eight institutional LIHTC investors, with three identified as repeat investors from Fund I. The outlet also cites Greystone leadership saying the push reflects both confidence in the affordable housing platform and institutional demand for impact investments that can benefit from tax incentives under the Community Reinvestment Act.