CREA Closes 40th Multi-Investor Fund, Raising $232 Million for Affordable Housing

CREA is proud to announce the successful closing of CREA Corporate Tax Credit Fund 115, LP ("Fund 115") on September 10, 2025. As CREA’s 40th multi-investor fund and 29th national fund, Fund 115 raised $232 million in equity from eight investor partners, of which all are repeat relationships reflecting continued confidence in CREA’s mission and performance.

Fund 115 comprises 16 properties across California, Florida, Illinois, Massachusetts, Michigan, North Carolina, Ohio, Oklahoma, Texas, and Wisconsin. The fund will support the construction or preservation of 1,670 affordable homes through the Low-Income Housing Tax Credit (LIHTC) program and is projected to generate over 2,080 jobs nationwide.

“While early 2025 brought its share of challenges and industry shifts, we’re encouraged to see renewed strength in the LIHTC program and continued support from our partners. Their confidence in CREA, and in affordable housing as a meaningful investment, makes successes like Fund 115 possible. We’re deeply grateful to our investor, developer, and business partners for their role in creating lasting impact in communities across the country.” - Thomas Periera, EVP, Production