Cinnaire has closed Fund for Housing Limited Partnership 45 (Fund 45), a $307 million LIHTC equity fund targeting the creation and preservation of 2,259 affordable housing units across 27 properties in 10 states. The fund will directly benefit an estimated 5,196 residents and represents one of the larger single-fund LIHTC equity closes in Cinnaire's history — a notable signal of sustained institutional appetite for affordable housing tax credit investment.

Key Takeaways:

Fund 45's close arrives at a moment when preservation pipelines are competing aggressively for equity capital alongside new construction. Cinnaire's ability to blend both deal types into a single $307 million vehicle — and close it — suggests the fund structure resonated with investors seeking diversification. Developers and syndicators should treat this as both a market signal and a near-term equity access opportunity, particularly as deployment timelines will shape deal economics for participating properties through the remainder of the year.

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