R4 Capital LLC

Work has officially begun at Lake Bradford Apartments, a new-construction, 158-unit, affordable housing complex in Tallahassee, FL. City of Tallahassee Mayor John E. Dailey, R4CF’s Stephanie Hynes, R4’s Austin Divino were among the many that joined our developer partner at the March 20 groundbreaking for this four-story apartment building which will provide housing for families earning up to 80% AMI. The combined efforts of R4 Capital, which raised $21.8 million in tax credit equity, and R4 Capital Funding, which funded $35 million in construction-permanent tax-exempt debt, helped bring this vital project to fruition. 

Just Closed: Hibiscus Grove rounds out a busy first quarter for R4 with another deal closing in 2025. This 10-story, elevator-serviced new-construction building will provide 270 units of affordable housing to Miami, FL. Residents earning 30%, 60%, and 80% AMI will have access to 168 one-bedroom units, 90 two-bedroom units, and 12 three-bedroom units, making the apartment complex a viable choice for families of various sizes.   Floors two through ten of the building will be exclusively affordable residential. The 5,500 square foot first floor will be subdivided into five retail spaces. This mixed-used building will also feature an adjoining, four-story parking garage. Residents will have access to on-site amenities including laundry facilities, a fitness center, and a family-friendly picnic area.   R4 Capital Funding provided $52,000,000 in construction-to-permanent tax-exempt debt. Construction is expected to be completed in under two years. Financing was made possible by our dedicated investor and developer partners, and our team at R4CF: Stephanie Hynes, James Spound, and Matthew Martinez.

Did you miss Michael Hopps last week at the GAHC? No worries! Head to Dallas, TX this week for the U.S. Housing & Community Development Conference. Mike joins fellow industry experts on April 2, 9:10am-10am for an insightful discussion of "Rowing in the Same Direction: Aligning Housing Policy With Real Estate Financing to Get the Intended Results for Your City." For more information, check out the conference website: https://lnkd.in/ewPWeHWZ

Join R4 Capital's Austin Divino at the Mississippi Home Corporation Annual Housing Conference April 2-4 in Biloxi!  Mississippi continues to face new challenges in affordable housing: Hear industry experts discuss new structures and business strategies to meet evolving regulations. Make sure to see Debt & Equity: Two Sides of the Housing Coin panel with Austin Divino on Thursday, April 3 at 2:30pm. Learn from the best in the business. Conference information here: https://lnkd.in/ehgN8DNx

Will we see you at the Georgia Affordable Housing Coalition 28th Annual Conference and Trade Show in Savannah, GA? R4 wouldn't miss it! There are two opportunities on Thursday to hear from us: R4's Jay Segel joins veteran industry experts on the Equity Updates Panel. Immediately following, don't miss R4CF's Michael Hopps who will join the Debt Updates Panel. Equity and Debt: all of your financing needs in under three hours with R4! Need more R4? James Spound and Justin Rotondo will be looking to see how they can help finance your upcoming debt and equity projects. Register today: https://lnkd.in/eBSkr7se

R4 Capital recently celebrated the grand re-opening of a fully renovated affordable housing complex. Phoenix Manor, formerly a market rate property, will provide 450 units across 38 apartment buildings for senior residents of Phoenix, AZ. The low-density complex spans 24 acres with park-like landscaping.   Notes Brian McMahon, “Phoenix, like many cities across the U.S., is experiencing a shortfall of affordable housing. Leveraging the LIHTC program, R4 Capital, with the help of our investor partners, raised more than $43.5 million in equity to provide housing for seniors earning 60% or less of AMI near bustling downtown Phoenix.”   Our dedicated team at R4 including Brian McMahon,Cory Bannister, Wes Slajchert, and Brooke Welch attended the occasion alongside our investor and developer partners, the social services provider Rainbow Housing Assistance Corporation, and local government officials.

On March 13, R4 proudly attended the groundbreaking of Rosa’s Place, a seven-story, permanent supportive housing apartment complex in the Skid Row neighborhood of Downtown Los Angeles, CA. R4 Capital, with our investor partners, raised more than $27.8 million in 4% tax credit equity to help finance this new construction. It will be built on the campus of the Downtown Women’s Center headquarters. This marks an historic expansion of the non-profit which was the first provider of permanent supportive housing for women in the U.S.! The building will consist of 97 studio apartments reserved for those earning between 30%-50% of the AMI with a focus on housing women and gender diverse individuals who are survivors of domestic abuse and are currently homeless or at risk of homelessness. The unique proximity of the apartments to the veteran staff at DWC grants the residents unprecedented, round-the-clock access to wraparound social services including intensive care management, instructor-led education courses, wellness programs, and skill-building classes. Many thanks to DWC for their innovative approach to confront the housing crisis by creating exceptional housing for their local community. More thanks to our dedicated folks at R4 who helped make it happen: Brian McMahon, Cory Bannister, Austin Rule.

Want to learn more about housing tax credits and how they can help you finance affordable housing in your area? This week R4's Daniel Harrington will be speaking with fellow industry insiders at the IPED Housing Tax Credits 101 Conference in Boston, March 13-14. Join Dan for the "Assessing the Status of the Tax Credit Equity Market in 2025 and Beyond" panel on Thursday. If you want to understand housing tax credits, hear it from the best. Use this link for more information: https://lnkd.in/e5ERAuGt

Just closed: Mesa Vista Apartments, located in Costa Mesa, CA, is the adaptive reuse of a former Motel 6 which will be converted into 87 units of affordable housing across four newly repurposed buildings. This unique remodel aims to provide sustainable rehabilitation for those facing mental illness challenges.   The property will prioritize residents earning between 40% - 60% AMI with a strong focus on housing for at-risk senior citizens and veterans. Thirty units will be designated as permanent supportive housing (“PSH”) to veterans and an additional 10 PSH units reserved for persons experiencing mental illness with a risk of homelessness. Residents will have access to wraparound social and mental health services as well as a community garden, outdoor lounge, four laundry rooms, and other amenities.    R4 Capital provided $16.4 million in tax credit equity and R4 Capital Funding provided $23 million of construction-permanent tax-exempt funding. The efforts of the full remodel would not have been possible without the help from our enduring investor relationships and innovative developers. And, a job well done to our team at R4: James Spound, Cory Bannister, Brian McMahon, Stephanie Hynes!

Surely you are heading to Illinois Housing Council Affordable Housing Forum February 26 and 27 in Chicago too? R4 Capital will be there. While you are there, come hear R4's Paul Connolly with fellow industry experts on the LIHTC Equity Market Update panel as they discuss current trends, emerging challenges, and opportunities in financing affordable housing projects. Not enough R4? Look for Josh Perlmutter and Clayton Turnbull who will be looking to speak to you!