Success Using Low Income Housing Tax Credit Syndication
The MCAP Funds are experienced investors and developers of affordable housing financed with Low Income Housing Tax Credits (LIHTC). Affiliates of the MCAP Funds serve as general partner for six multifamily properties financed by low income housing tax credits. All but one of these properties were developed by MCAP affiliates. The MCAP Funds have received over $30 million from the sale of tax credit equity to major tax credit syndicators.
In 2011, MCAP sold tax credits allocated to six LIHTC developments located across the nation. The MCAP Funds invested nearly $10,000,000 in equity in these six properties, passing through almost $3,000,000 in federal tax credits to investors and selling the remaining tax credits at a profit.