Red Stone Equity Partners LLC raised over $500 million in tax equity in 2016 for low income house and renewable energy

Written By: Stratton Report
February 13, 2017

Redstone equity

On February 13, Red Stone Equity Partners, LLC a real estate finance and investment company specializing in multifamily funds and financings, announced that it raised $578 million of tax credit equity in 2016.

Per the company, the $578 million of tax credit raised in 2016 included $22 million of renewable energy tax credit equity.  Since Red Stone Equity’s founding 10 years ago, it has financed the construction and /or rehabilitation of more than 22,000 units of affordable housing and 460 megawatts of solar energy installations.

Rob Vest, Managing Director and co-head of Acquisitions noted: “2016 proved to be a very solid year for Red Stone Equity and our LIHTC development and investor partners.  We continued on our growth trajectory and solidified our presence in key markets throughout the country,” said.

Richard Roberts, Managing Director and co-head of Acquisitions said

Throughout 2016, we performed at a high level as a company and that resulted in us achieving our goals.  I want to thank Red Stone Equity’s employees for their commitment throughout the entire year.  I know that all of them share our pride in our contributions to adding to the nation’s much needed supply of affordable housing.

Red Stone Equity’s COO Bob Fein commented: “As the LIHTC industry faces some headwinds and uncertainty in 2017, it is entirely appropriate to celebrate our achievements of the prior year.  I can’t think of a better way to acknowledge our decade-long track record of sustained growth and high quality investments.  We will continue to work with all of our partners to move our business forward in the future.”