Freddie Mac Makes $61M Investment In Affordable Housing
Freddie Mac is helping families displaced by Hurricane Harvey and more with a $61 million investment in affordable housing. The investment is the result of a Low-Income Housing Tax Credit fund that Freddie Mac closed with National Equity Fund.
"The new fund is Freddie’s fifth LITHC fund since re-entering the market last year," according to HousingWire.
"According to Freddie Mac, the first three investments from this new fund will help provide supportive housing for individuals experiencing homelessness and families displaced by Hurricane Harvey."
$15 million of the LIHTC investments has been allotted to help those displaced by Hurricane Harvey, $19.6 million has been allocated to address homelessness on Skid Row and $26.5 million towards servicing homeless veterans in South Los Angeles, according to the report.
"David Leopold, vice president of Targeted Affordable Sales & Investments at Freddie Mac, said that NEF has a more than 30-year record of making investments in affordable housing, adding that the GSE is 'proud' to aid NEF in its mission."
To find out more about the recent LIHTC investments from Freddie Mac, click on the image above.