G
reystone Real Estate Capital, a national tax credit syndicator and subsidiary of Greystone Select Incorporated, has closed its inaugural fund, Greystone Affordable Housing Fund I LP. The $103 million multi-investor Low-Income Housing Tax Credit (LIHTC) fund will support the development and preservation of nearly 1,000 affordable housing units across six states.
This milestone marks a significant achievement for Greystone Real Estate Capital, which was formed in early 2024 with industry veterans. Their goal is to build a client-first, impact-driven syndication platform that ranks among the top in the country. "The closing of Fund I is a testament to our team's hard work and dedication," said Greg Voyentzie, Chief Executive Officer at Greystone Real Estate Capital.
Key highlights of the fund include:
* Total equity raised: $103 million
* Number of investors: 7 institutional investors from the financial and insurance sectors
* Properties financed: 11 multi-family developments across six states (Louisiana, Massachusetts, Mississippi, New Jersey, Ohio, and Pennsylvania)
* Affordable units created/preserved: 959 units
Greystone Real Estate Capital benefits from its parent company's deep expertise and financial strength. With $7 billion in assets, the platform is well-positioned for long-term growth. Its strengths include:
* Proprietary underwriting and impact assessment tools
* Concierge-level investor services
* A leadership team with over 200 years of combined LIHTC experience
The company also leverages shared corporate services across the Greystone enterprise, including a technology team and a culture rooted in innovation and social impact.
