CREA Sets New Benchmark with $403.2 Million Fund to Expand Affordable Housing
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CREA is proud to announce the successful closing of CREA Corporate Tax Credit Fund 117, LP (“Fund 117”) at the end of 2025, which reached a total of $403.2 million in equity. As CREA’s 41st multi‑investor fund, 30th national fund, and the largest in CREA’s history, Fund 117 brings together 14 investor partners, including one new relationship, underscoring continued confidence in CREA’s platform and commitment to affordable housing.
Fund 117 includes 36 developments, one of which expands CREA’s footprint into its 49th state - North Dakota. The remaining properties are located across California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Kentucky, Michigan, North Carolina, New York, Ohio, Pennsylvania, Tennessee, and Texas, reflecting a broad national reach. Through the Low‑Income Housing Tax Credit (LIHTC) program, the fund will support the construction or preservation of 3,484 affordable homes and is projected to generate 4,355 jobs across the country.
“Our goal has never been to simply add another state to the board, but we are honored to continue the expansion of the CREA brand by laying a foundation in North Dakota; bringing affordable housing to a community that will truly benefit from it,” said Charles Anderson, President. “Closing our largest fund to date in spite of a challenging geo-political environment makes me exceptionally proud of our team and deeply grateful to the many partners who trust us to safeguard their investments while simultaneously delivering meaningful community impact.”
