Red Stone Equity Partners Raises $1.43 Billion of Equity in 2024 and Deepens Executive Bench
- Editor
- Feb 18
- 1 min read
Whats Happening:
Red Stone Equity Partners, a real estate finance and investment company, raised $1.43 billion in affordable housing equity in 2024, marking its most productive year since inception in 2007. The fund surpassed $11.3 billion in total equity raised and invested, financing over 800 Low Income Housing Tax Credit properties with more than 68,000 affordable housing units across 46 states, Washington, D.C., and Puerto Rico.
Key Moves:
Red Stone Equity raised $1.43 billion in affordable housing equity in 2024
The fund closed its largest two multi-investor LIHTC funds in history
Red Stone Equity made its first non-LIHTC investment in affordable housing preservation
By The Numbers:
$11.3 billion in total equity raised and invested since inception
73 LIHTC properties financed in 26 states/districts in 2024
Over 68,000 affordable housing units financed since inception
Key Quotes:
"Raising $1.43 billion in affordable housing equity in a single year is a remarkable achievement," said Ryan P. Sfreddo, CEO of Red Stone Equity.
"Our people are our most important asset," added Mike Wiggers, President of Red Stone Equity.
Bottom Line:
Red Stone Equity's record-breaking year in 2024 demonstrates the fund's strong position in the affordable housing market. With $1.43 billion raised and significant executive promotions, the fund is well-positioned to continue its growth and impact in addressing the nation's housing crisis.
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