Merritt Community Capital raises $42 million in Fund XX
OAKLAND, CA – Merritt Community Capital Corporation Fund XX, LP, closed. A $42 million institutional low-income housing tax credit (LIHTC) fund used to develop more than 400 affordable housing units in California.
“Merritt’s almost 30-year history of providing and preserving affordable housing in the state of California continues with this 20th multi-investor fund.” said, Lisa Castillo, President and CEO, “We are grateful for the opportunity to work with long standing providers of affordable housing and our loyal investors, including one new investor, to continue this work.”
Fund XX funded properties are located in San Francisco, Los Angeles and Sacramento, California.
ABOUT MERRITT COMMUNITY CAPITAL CORPORATION
Merritt Community Capital Corporation provides equity capital for affordable housing throughout California, revitalizing neighborhoods through construction, rehabilitation, and long-term asset management. Since 1989, the company has financed more than 8,887 affordable homes, and invested more than $846 million in 21 separate funds. Merritt is the West Coast member of the National Association of State and Local Equity Funds (NASLEF) and continues to offer exceptional service to investors, developers and consultants of LIHTC affordable housing properties. For more information, visit www.merrittcap.org.