Fostering longstanding relationships with investors and developers of affordable housing
- Fund Management
- Structures, markets, and closes all R4 LIHTC investment funds
- Approximately $1.6 billion in capital raised and invested across ten multi-investor funds and 5 proprietary funds
- Works collaboratively with R4’s Acquisitions Teams to assemble funds that meet investors’ needs
- Ensure fund investments meet R4’s and investors’ credit requirements
- Responsible for the accuracy and timeliness of fund reporting to all R4 Investors; R4 has delivered every report to date on or before the deadline.
- R4 Housing Partners LP (2012), a $105 million national multi-investor fund, has acquired interests in 16 properties and has eight investors (three insurance companies and five banks).
- R4 Housing Partners II LP (2013), a $125 million national multi-investor fund, has acquired interests in 25 properties and has seven investors (three insurance companies and four banks).
- R4 California Housing Partners LP (2013), a $57.5 million California-only multi-investor fund, has acquired interests in eight properties and has six investors (all banks).
- R4 Fresno Housing Partners LLC (2014), a $32.2 million California-only multi-investor fund, has acquired interests in two properties and has four investors (one insurance company and three banks).
- R4 Housing Partners IV LP (2014), a $160 million national multi-investor fund, has acquired interests in 17 properties and has 12 investors (four insurance companies, seven banks, and one financial services company).
- R4 New York Housing Partners LP (2015), an $18 million New York-only multi-investor fund, has acquired an interest in one property and has three investors (all banks).
- R4 Housing Partners V LP (2015), a $277 million national multi-investor fund, has acquired interests in 29 properties and has 19 investors (12 banks and seven insurance companies).
- R4 California Housing Partners II LP (2016), a $70 million California-only multi-investor fund, has acquired interests in six properties and has nine investors (all banks).
- R4 Housing Partners VI LP (2016), a $144.5 million national multi-investor fund, has acquired interests in 13 properties and has 13 investors (10 banks and three insurance companies).
- R4 Capital has established five proprietary funds to date, with approximately $285 million of LIHTC investments under management. All R4-sponsored funds are currently meeting or exceeding the IRR that was original projected.
- Asset Management
To protect investors and all other stakeholders in LIHTC projects, we’ve developed a superior asset management protocol. Our proactive, intensive and consistent method integrates rigorous project underwriting with comprehensive asset management practices throughout the duration of a project. It includes precise definitions of responsibilities and detailed, written policies and procedures.
This rigorous standard governs our management of R4 Capital’s growing property portfolio, which includes more than 178 properties located in 39 states and U.S. territories.
Our guiding asset management principle is as follows: we’re committed to being strictly accountable at all times throughout the life cycle of an investment. Our clients have direct and continuous access to R4 Capital senior executives and can expect honest answers and immediate feedback.
- LIHTC Investment
We believe every American deserves decent and affordable housing. By intelligent use of the LIHTC Program, R4 Capital ensures affordable housing is financed and built.
Our proven team of affordable housing leaders has provided competitively structured capital for developers in over 2,000 transactions for over 30 years.
Since May 2012, R4 Capital has raised approximately $1.6 billion of LIHTC equity from nearly 60 institutional investors in multi-investor fund offerings and proprietary funds.
R4 Capital’s multi-disciplinary approach to underwriting sets the standard for LIHTC investment. We leverage upon the vast experience of our industry veterans company-wide, unique knowledge of local markets and the guiding principles of our proprietary Investment Standards to position each investment for long-term success. Our team carefully evaluates each opportunity based upon its own unique merits and not a “one size fits all approach,” which offers both our development and investment partners a superior and seamless execution.
As our investment portfolio grows and markets evolve, R4 Capital will continue to employ the sound credit policies and underwriting procedures that has served as one of the firm’s cornerstones since inception.
Our governing credit underwriting principle is as follows: to provide our stakeholders with the most rigorous and balanced evaluation of each opportunity to ensure the protection of respective interests. Accountability of our seasoned underwriting professionals to our partners doesn’t end at closing, but spans the entirety of the investment.
- Affordable Housing Debt
R4 Capital Funding (“R4CF”) is a tax-exempt debt platform launched by R4 in January 2016 to provide mortgage capital for affordable multifamily housing properties throughout the US.
R4CF’s Direct Purchase Bond Program provides developers with a highly efficient construction and permanent financing execution. Through an integrated underwriting platform, R4CF originates, structures, and acquires private placement tax-exempt mortgage revenue bonds to finance the new construction or acquisition/rehabilitation of affordable multifamily housing properties.
On behalf of its institutional capital partners, R4CF originates, asset manages, and securitizes targeted portfolios of multifamily tax-exempt bonds to produce attractive long-term investments.