Greystone Real Estate Capital closes inaugural LIHTC Fund

Greystone Real Estate Capital, a national tax credit syndicator and subsidiary of Greystone Select Incorporated (and together with its direct and indirect subsidiaries, “Greystone”), announced the closing of Greystone Affordable Housing Fund I LP, a $103 million multi-investor Low-Income Housing Tax Credit (LIHTC) fund. The fund will support the development and preservation of nearly 1,000 affordable housing units across 11 properties in six states, focused on delivering safe, high-quality housing that provides lasting community impact.

This inaugural fund closing marks a pivotal milestone for Greystone Real Estate Capital, following the strategic formation of the platform in early 2024 with industry veterans. Their collective vision—to build a client-first, impact-driven syndication platform that ranks among the top syndicators in the country—has now been brought to life with the successful closing of Fund I.

“The closing of Fund I is a powerful endorsement of our platform and a testament to the exceptional team we’ve built, the depth of our relationships, and the unwavering support of our parent company,” said Greg Voyentzie, Chief Executive Officer at Greystone Real Estate Capital. “We’re honored to partner with such a committed group of investors and developers, all relationships built on a foundation of trust, respect, and a shared purpose to deliver high-quality, affordable housing where it’s needed most.”

Fund Highlights

• Total Equity Raised: $103 million
• Number of Investors: 7 institutional investors from the financial and insurance sectors
• Properties Financed: 11 multi-family developments
• States Covered: Louisiana, Massachusetts, Mississippi, New Jersey, Ohio, and Pennsylvania
• Affordable Units Created/Preserved: 959 units 
• Estimated Economic Impact: 1,100 jobs created, $132 million in wages and business revenue, $49 million in tax revenue generated*

Platform Strengths
Greystone Real Estate Capital benefits from the deep expertise and financial strength of its parent company, Greystone, which has been active in affordable housing since 1989. With $7 billion in assets, $100 billion in primary and special loan servicing volume, and $12 billion in annual loan originations, Greystone provides a solid foundation for long-term growth.

The platform is distinguished by:

• Proprietary underwriting and impact assessment tools
• Concierge-level investor services
• A leadership team with over 200 years of combined LIHTC experience
• An investment committee composed of veterans from top-tier institutions, ensuring institutional-quality execution and proactive risk management

Greystone Real Estate Capital also leverages shared corporate services across the Greystone enterprise, including a 112-member technology team, a $40 million annual IT budget, and a culture rooted in innovation and social impact.