Cinnaire has announced the closing of the Cinnaire Fund for Housing Partnership 42, a $190 million multi-investor Low-Income Housing Tax Credit (LIHTC) fund. This significant milestone will support the creation or preservation of 1,478 affordable multifamily homes across 21 properties, serving over 3,400 individuals. Notably, for the first time in its history, Cinnaire is investing in communities spanning from Wisconsin to Delaware within a single fund. “With each closing, we are reminded of our ongoing commitment to bringing affordable housing to the communities that we serve,” said Ryan Robinson, President of Cinnaire Syndication. “The need for housing has never been greater. We deeply appreciate our exceptional partners who share our vision and support us in transforming lives. Together, we are building stronger, more vibrant communities where people and families can thrive.”

The fund’s developments include 284 units designated for seniors and individuals with special needs, ensuring that vulnerable populations have access to safe, quality, and affordable homes. Notable projects supported by the fund include:

The fund’s investors include both national and regional banks, many of whom are repeat investors with Cinnaire. Their ongoing commitment underscores the strength of Cinnaire’s impact-driven investment strategy.

“Our Housing Tax Credit funds continue to grow and attract innovative partnerships,” said Josh Ghena, Senior Vice President of Syndication Funding. “With Fund 42, we have been able to prioritize unique opportunities and expand our reach, providing critical housing solutions for seniors, families, and special needs populations. This collective effort ensures that we can help build healthier, more equitable communities.”

In 2024, Cinnaire raised more than $368 million in equity, leveraging $964 million in total development costs and supporting more than 2,900 affordable homes in ten states. Closing Fund 42, the second-largest LIHTC fund in the organization’s history, required extraordinary teamwork across the syndication company and beyond.

Since its inception in 1993, Cinnaire has closed more than $5 billion in tax credit funds, supporting affordable housing in ten states. Fund 42 represents a continuation of this impactful legacy, ensuring that families across the Midwest and Mid-Atlantic have access to homes that are safe, affordable, and contribute to thriving communities.