Key Takeaways
- • Greystone Real Estate Capital closed its second LIHTC multi-investor fund at $137 million, bringing total equity raised across its inaugural platform to over $240 million within the first year of operations.
- • The firm's first LIHTC fund closed at $103 million and will finance development and preservation of nearly 1,000 affordable housing units across 11 properties spanning six states (Louisiana, Massachusetts, Mississippi, New Jersey, Ohio, and Pennsylvania).
- • Greystone partnered with seven institutional investors from the financial and insurance sectors on Fund I, demonstrating institutional appetite for LIHTC syndication platforms amid growing affordable housing demand.
- • The inaugural fund's portfolio developments are expected to generate significant economic impact: 1,100 new jobs, $132 million in wages and business revenue, and $49 million in tax revenue.
- • Greystone Real Estate Capital, formed in early 2024 as part of Greystone (a leading national commercial real estate finance company), has rapidly scaled its LIHTC syndication business to compete in the affordable housing investment space.
Summary
Greystone Real Estate Capital has achieved a significant milestone in its affordable housing finance strategy, closing its second LIHTC (Low-Income Housing Tax Credit) multi-investor fund at $137 million. This closing, announced by Todd Jones and leadership at the firm, represents rapid scaling of the platform—in its first year of operation, Greystone has raised over $240 million in total equity across its multi-investor LIHTC vehicles.
The firm's inaugural fund, which closed at $103 million, provides a foundation for this expansion. Fund I will support the development and preservation of approximately 959 to 1,000 affordable housing units across 11 properties located in six states: Louisiana, Massachusetts, Mississippi, New Jersey, Ohio, and Pennsylvania. The firm secured commitments from seven institutional investors representing the financial and insurance sectors, underscoring institutional confidence in Greystone's LIHTC syndication platform at a time when affordable housing investment demand remains elevated.
According to Greg Voyentzie, CEO of Greystone Real Estate Capital, the rapid fund closings validate the platform's business model and team execution. "The closing of Fund I is a powerful endorsement of our platform and a testament to the exceptional team we've built, the depth of our relationships, and the unwavering support of our parent company," Voyentzie stated. The firm benefits from backing by Greystone, a leading national commercial real estate finance company with significant scale in multifamily and healthcare finance, as well as top-tier relationships with the Federal Housing Administration, Fannie Mae, and Freddie Mac.
The economic multiplier effects of Fund I's portfolio are substantial. The developments are projected to generate 1,100 new jobs, $132 million in wages and business revenue, and $49 million in tax revenue, highlighting the intersection of financial returns and community development impact that attracts institutional capital to LIHTC structures. Greystone's dual-fund success in 2025-2026 positions the firm as a material player in the affordable housing syndication market, which has seen increased institutional interest given favorable tax credit economics and ESG-aligned investment mandates across the institutional investor base.
The firm's inaugural fund, which closed at $103 million, provides a foundation for this expansion. Fund I will support the development and preservation of approximately 959 to 1,000 affordable housing units across 11 properties located in six states: Louisiana, Massachusetts, Mississippi, New Jersey, Ohio, and Pennsylvania. The firm secured commitments from seven institutional investors representing the financial and insurance sectors, underscoring institutional confidence in Greystone's LIHTC syndication platform at a time when affordable housing investment demand remains elevated.
According to Greg Voyentzie, CEO of Greystone Real Estate Capital, the rapid fund closings validate the platform's business model and team execution. "The closing of Fund I is a powerful endorsement of our platform and a testament to the exceptional team we've built, the depth of our relationships, and the unwavering support of our parent company," Voyentzie stated. The firm benefits from backing by Greystone, a leading national commercial real estate finance company with significant scale in multifamily and healthcare finance, as well as top-tier relationships with the Federal Housing Administration, Fannie Mae, and Freddie Mac.
The economic multiplier effects of Fund I's portfolio are substantial. The developments are projected to generate 1,100 new jobs, $132 million in wages and business revenue, and $49 million in tax revenue, highlighting the intersection of financial returns and community development impact that attracts institutional capital to LIHTC structures. Greystone's dual-fund success in 2025-2026 positions the firm as a material player in the affordable housing syndication market, which has seen increased institutional interest given favorable tax credit economics and ESG-aligned investment mandates across the institutional investor base.
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