PNC Multifamily Capital closes $208M affordable housing fund

June 18, 2025 09:26 AM PDT | By EODHD

Google News:

PNC Multifamily Capital closes $208M affordable housing fund — Image source: Kalkine Media

Recent News

CACI International (NYSE:CACI) A Closer Look S&P 500

Full Truck Alliance (NYSE:YMM) Sees Institutional NYSE Composite

Targa Resources (NYSE:TRGP) performance outpaced NYSE Composite index

Canada’s housing affordability: new report lowers expectations

[PNC Bank tower, Cincinnati, Ohio, USA] sharrocks/iStock Unreleased via Getty Images PNC Multifamily Capital, part of PNC Financial Services Group (NYSE:PNC [https://seekingalpha.com/symbol/PNC]), has finalized its Low-Income Housing Tax Credit (LIHTC) Fund 98, which is investing over $208M in the development and rehabilitation of affordable rental housing [https://seekingalpha.com/pr/20141297-pnc-multifamily-capital-announces-208-million-affordable-housing-fund-increasing-access-to] across the U.S., it said on Wednesday. The fund includes investments from PNC and seven other financial services and insurance companies, including two investors that are new to the LIHTC funds. The investment will finance the construction or rehabilitation of more than 2,000 affordable homes in 15 multifamily properties across 11 states: Alabama, California, Hawaii, Illinois, Kentucky, Minnesota, Nevada, Ohio, Oregon, Pennsylvania and Texas. The move comes "the nation continues to grapple with a shortage of affordable housing," said Megan Ryan, senior vice president and manager of Tax Credit Equity Syndication for PNC Multifamily Capital. At the end of 2024, PNC Multifamily Capital managed about $15.5B in tax credit equity that supports more than 133,000 affordable rental units, 176 New Markets Tax Credits investments and 69 historic properties nationwide, while also maintaining a $31B agency loan portfolio.

MORE ON PNC FINANCIAL * PNC Financial: Long-Term Investors Should Wait For A Pullback [https://seekingalpha.com/article/4794350-pnc-financial-long-term-investors-wait-for-pullback] * The PNC Financial Services Group, Inc. (PNC) Presents at Morgan Stanley US Financials, Payments & CRE Conference (Transcript) [https://seekingalpha.com/article/4794209-the-pnc-financial-services-group-inc-pnc-presents-at-morgan-stanley-us-financials-payments] * PNC Financial: Solid Fundamentals Reflected In Valuation [https://seekingalpha.com/article/4793912-pnc-financial-stock-solid-fundamentals-reflected-in-valuation] * PNC launches new payment processing tool for micro businesses [https://seekingalpha.com/news/4457303-pnc-launches-new-payment-processing-tool-for-micro-businesses] * PNC unveils no-fee credit card with APR cuts for responsible spending [https://seekingalpha.com/news/4446470-pnc-unveils-no-fee-credit-card-with-apr-cuts-for-responsible-spending]

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media LLC., having Delaware File No. 4697309 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.