CREA SETS NEW BENCHMARK WITH $403.2 MILLION FUND CREA proudly announced the successful closing of CREA Corporate Tax Credit Fund 117, LP (“Fund 117”), at the end of 2025 which reached a total of $403.2 million in equity. As CREA’s 41st multi‑investor fund, 30th national fund, and the largest in the organization’s history, Fund 117 brought together 14 investor partners, including one new relationship - reflecting continued confidence in CREA’s platform and commitment to affordable housing.
Fund 117 included 36 developments, one of which expanded CREA’s footprint into its 49th state, North Dakota. The remaining properties were located across California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Kentucky, Michigan, North Carolina, New York, Ohio, Pennsylvania, Tennessee, and Texas, representing a broad national reach. Through the LIHTC program, the fund supported the construction or preservation of 3,484 affordable homes and was projected to generate 4,355 jobs across the country.
“Our goal has never been to simply add another state to the board, but we are honored to continue the expansion of the CREA brand by laying a foundation in North Dakota; bringing affordable housing to a community that will truly benefit from it,” said Charles Anderson, President. “Closing our largest fund to date in spite of a challenging geo-political environment makes me exceptionally proud of our team and deeply grateful to the many partners who trust us to safeguard their investments while simultaneously delivering meaningful community impact.”
FUND 115 CLOSES AT $232 MILLION IN EQUITY
In 2025, CREA advanced its mission to expand affordable housing with the successful closing of CREA Corporate Tax Credit Fund 115, LP (“Fund 115”) on September 10. As CREA’s 40th multi‑investor fund and 29th national fund, Fund 115 raised $232 million in equity from eight investor partners - all repeat relationships, reflecting sustained confidence in CREA’s mission and performance. Fund 115 comprised 16 properties across California, Florida, Illinois, Massachusetts, Michigan, North Carolina, Ohio, Oklahoma, Texas, and Wisconsin. The fund supported the construction or preservation of 1,670 affordable homes through the LIHTC program and was projected to generate more than 2,080 jobs nationwide.
09
Made with FlippingBook - Online magazine maker