R4 Capital LLC

Stephanie Hynes, vice president of R4 Capital Funding, was pleased to join the groundbreaking of Ivey Flats Apartments, a 137-unit, new construction affordable housing development in Orlando, FL.  R4CF provided $26MM in tax-exempt debt to help finance the property which has specific set-asides for Extremely Low Income (ELI) residents and youths aging out of foster care. Ivey Flats will consist of 27 one-bedroom, 77 two-bedroom, and 33 three-bedroom units which are restricted to residents earning between 30%-80% AMI. Residents will have access to onsite management, a business center, a fitness center, and picnic and playground areas. Additionally, the occupation of ELI units will be overseen and executed by a local supportive services agency to ensure the designated units are occupied by Youths Aging out of Foster Care. Groundbreaking attendee, Orlando Mayor Buddy Dyer, noted the importance of teamwork between private and public sectors, “Through our Orlando Unlocked housing initiative, we’re working to remove barriers…by modernizing zoning, streamlining approvals and offering real incentives…” Creative, collaborative solutions to address the need for housing across Orlando (and the nation), would not be possible without our developer partners, whose relationships with community leaders and local organizations enabled the building of Ivey Flats Apartments. A job well done to the committed team at R4 Capital Funding including James Spound, Stephanie Hynes, Matthew Martinez, and Madeleine Dawson.

Affordable Housing Finance asked leading syndicators to assess the LIHTC market. R4's managing director Jason Gershwin noted "...there remains significant need for affordable housing and strong investor demand for our funds." Click on the link to read why he expects investors to have an increased LIHTC appetite and how policy will shape 4% credits going forward. https://lnkd.in/gkpfXerH

JUST CLOSED: Almond Gardens of Suisun City, Solano County, CA will bring 97 units of much needed 100% affordable housing to families across the Bay Area and Central Valley. R4 Capital raised $30.5 MM total equity through 4% federal and state Housing Credits. R4 Capital Funding provided $50.8 MM in tax-exempt and taxable construction-to-permanent debt financing. The newly constructed property will feature 57 two-bedroom, 30 three-bedroom, and10 four-bedroom units, available to residents earning 30-50% AMI.  This brand-new community will replace a 1950s-era, aging multifamily development, which is currently home to 30 tenants. These tenants will be relocated into the new buildings upon construction completion. The Almond Gardens redevelopment will include an additional 45 units for new residents. As the cost of living has ballooned across the country, California’s Bay Area and surrounding neighborhoods have steadily been at the center of the housing crisis, with formerly rural, outer suburban areas like Solano County getting hit the hardest by the urgent need for affordable housing. R4 Capital is proud to be a part of the ongoing effort to help finance this essential project and couldn’t do so without our longstanding developer and investor partnerships. Congratulations to the R4 team who worked hard to get this deal to the finish line: Cory Bannister, James Spound, Stephanie Hynes, Matthew Martinez, and Wes Slajchert.

GRAND OPENING! R4 Capital executive vice president, Brian McMahon, was thrilled to participate in the grand opening ceremony of Serenity Apartments in South Los Angeles, CA. The new construction of the five-story, elevator-serviced building creates 50 new affordable units for seniors in the Manchester Square area. The property was constructed in the former parking area of the Southside Church of Christ, reflecting the efforts of this congregation and the larger community-based organization to stem the homelessness crisis in the state of California. To help bring this to completion, on behalf of its investors, R4 Capital provided $13 million in tax credit equity and R4 Capital Funding financed $22.2 million in tax-exempt and taxable construction-to-permanent multifamily housing revenue bonds. Today, the new residence holds 36 of the 49 units reserved for homeless and chronically homeless residents earning no more than 30% of the Area Median Income ("AMI"); rents for these units will be subsidized by project-based vouchers supplied under a HAP contract awarded by the Housing Authority of the City of Los Angeles. The remaining 13 units will be unsubsidized and will be available for rent to anyone earning no more than 60% of AMI. One of the one-bedroom units will be occupied by a resident manager. Wraparound social services will be available to residents to address adult education, health and wellness, and skill-building. Congratulations to the developer and finance teams who partnered with us to create affordable housing in areas that need it most and to our own R4 team, in addition to Brian McMahon: Cory Bannister, James Spound, Tara Nussbaum, Michael Cavanagh, Eleena Chen, and Daniel Morrone! 

It's the last week of summer and where are affordable housing finance industry leaders heading? To the Indiana Affordable Housing Council 2025 Housing Conference, that's where. Who should you look for from R4 Capital and R4 Capital Funding? Paul Connolly, James Spound, Lindsay Soyka, Ben Cirella, and Michael Hopps, and Arthur Ermelino. Don't miss R4's Josh Perlmutter speaking on Wednesday, August 27 on the Tax Credit Equity Markets Roundtable panel.

It's summer and R4 Capital is busy and growing. Ready to start your career in affordable housing finance with motivated team of professionals? Check out our Career page - we have two openings available today: Become a Financial Analyst in Acquisitions in our Boston office and or an Assistant in Office Management in New York City. We look forward to hearing from you! https://lnkd.in/egwK4ceT

We are just days away from the Texas Affiliation of Affordable Housing Providers (TAAHP) Texas Housing Conference July 21–23 in Austin, Texas - where professionals connect with top leaders in the affordable housing industry – the people you want to hear! Don’t miss R4 Capital Funding (R4CF) president James Spound on the “What’s New in the Debt Capital Market” panel on Tuesday morning.  Why? Since July 2 in Texas, R4 has:  --Provided $146MM in tax-exempt and taxable mortgage capital --Financed over $75MM in Housing Credit equity --Created or preserved 653 affordable housing units   Our team is looking forward to seeing you there: Jay Segel, Austin Divino, Colton Sanders, Rosie Franco, Michael Hopps, Laura DeBellas, Daniel Harrington, James Matias, Chris Schreck, and Paul Connolly! Stop by our booth in the exhibit hall for more information about how R4 can finance your next affordable housing deal.  

Just Closed: R4’s most recent Texas deal closing this July adds Torrington Briarwood, located in Mesquite, TX, to our growing Texas portfolio keeping pace with the State’s expanding population. R4 Capital and R4 Capital Funding provided more than a combined $99.0MM in 4% equity and tax-exempt and taxable financing for the new construction of this 313-unit apartment complex which sits east of Dallas. Torrington Briarwood is 100% affordable housing, reserved for families earning up to 70% AMI. Housing affordability is vital in the Dallas-Fort Worth area where the average rental price recently surpassed the number one spot on Zillow’s list of Texas’s most expensive metro areas. The property spans 4 four-story elevator-serviced buildings and will include 47 one-bedroom units, 148 two-bedroom units, 106 three-bedroom units, and 12 four-bedroom units. The complex will provide many outdoor amenities including a swimming pool, dog park, walking trails, grilling stations, and a playground. To learn more about R4’s approach to financing affordable housing in Texas, stop by Booth 47 at Texas Affiliation of Affordable Housing Providers (TAAHP) Texas Housing Conference (July 21-23) to meet with the R4 team responsible for Torrington Briarwood and many more deals like it. Jay Segel, James Spound, Austin Divino, and Michael Hopps.

This is the 2nd Texas deal R4 Capital closed since July 1: The Legacy on Kiest, the new construction of 180 affordable housing units in Dallas, was financed with $22.4MM in Housing Credit equity by R4 Capital. R4 Capital Funding provided $41.7MM in Tax-Exempt and Taxable mortgage capital. The new-construction property will provide 180 units of 100% affordable housing to Dallas families earning between 40%-60% AMI. Residents will have access to a swimming pool, fitness center, playground, business center, and on-site social services provided at no cost. R4 was proud to work with long-time investor and developer partners to help fund this much needed affordable housing in one of the nation’s fastest growing counties.  A job well done to those on the Legacy on Kiest team including: Jay Segel, James Spound, Justin Rotondo, Michael Hopps. If you want to know more about how R4’s capabilities in Texas, we’ll be there to meet you at the Texas Affiliation of Affordable Housing Providers Texas Housing Conference – July 21-23 in Austin, TX.

Just Closed: Sunflower Terrace Apartments will undergo a significant rehabilitation commencing this July. We are proud to be an essential part of the financing to preserve and update the existing 160 affordable housing units in Houston, TX. R4 Capital financed $18.7MM in Housing Credit equity. R4 Capital Funding provided $39.5 MM in Tax-Exempt and Taxable mortgage capital. The property, built in 1971, will be modernized and will offer vital onsite services to residents provided by Hope through Housing Foundation. Sunflower Terrace consists of 160 units of affordable housing across 10 three-story buildings offering 100% affordable homes to families earning between 40%-60% AMI. This rehab transforms what was an aging Section 8 property into safe, quality housing which will while remaining affordable. R4 and R4CF’s investor and developer partners are instrumental to the preservation of affordable housing where escalating demand has created a housing shortage. Congratulations to all those involved including James Spound, Paul Connolly, Adam Cohen, Michael Hopps, and Brandon Adams.