Cinnaire has closed its most recent fund, Cinnaire Fund for Housing Limited Partnership 31, a low income housing tax credit fund that raised $150M of investment to support affordable, multifamily housing throughout the Midwest.
The capital for Cinnaire Fund 31 came from a total of 14 investors, including two new investors. Cinnaire Fund 31 will help finance 1,881 units at 29 properties in Michigan, Indiana, Illinois, Minnesota and Wisconsin.
“In our 23-year history, Cinnaire has raised more than $2.61 Billion in equity investment, creating or renovating over 39,000 units of affordable housing,” said Mark McDaniel, Cinnaire President & CEO. “These investments have allowed Cinnaire to successfully revitalize neighborhoods throughout the Midwest and Mid-Atlantic regions, spurring community and economic development. We wish to thank our investors for their commitment to invest in safe, high-quality, affordable housing.”