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CEDAR RAPIDS, IA—Aegon Real Assets US (Aegon RA) has closed a $151 million national low-income housing tax credit (LIHTC) fund. This is Aegon RA’s 13th multi-investor LIHTC fund closing with two new investors joining the LIHTC platform alongside five repeat investors. The fund will be comprised of investments in 14 partnerships with affordable housing multifamily properties located in nine states across the country.
Aegon RA, a member company of Aegon Asset Management, the global group of asset managers affiliated with Netherlands-based Aegon N.V, is the funds sponsor and will also provide fund oversight and asset management services.
Aegon RA has been a steady participant in this socially responsible market sector and currently manages 420+ partnerships nationwide. Since 2003, the firm has raised $3.5 billion in tax credit equity from institutional investors across 58 funds. Since 1987, the firm has deployed $4.8 billion in total equity commitments to lower tier investments on behalf of institutional nonaffiliated clients and Aegon RA’s insurance company affiliates.
“We continue to see growth in the real assets equity platform, led by our tax credit group, “ said Christoph Gabler, co-head of Aegon RA, in prepared remarks. He also said that the company also recently launched real asset equity strategies for workforce housing and Opportunity Zones.
Bank of America Merrill Lynch acted as placement agent for the funds.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
