CREA Closes Fund 120, a $250 Million Investment Supporting 1,896 Affordable Homes Nationwide

CREA proudly announces the closing of CREA Corporate Tax Credit Fund 120, LP (“Fund 120”), the organization’s 42nd multi-investor fund and 31st national fund. Totaling $250 million - including $238.5 million in federal equity and $11.5 million in state equity - Fund 120 reflects the strength of CREA’s longstanding investor and developer relationships. The fund was supported by nine returning investors and 16 primary developer partners, including 13 repeat developers, demonstrating CREA’s collaborative network. Fund 120 highlights the confidence and continuity that define CREA’s approach to long-term partnership and advance affordable housing development nationwide.

Fund 120 supports 17 developments that will create or rehabilitate 1,896 affordable homes through the LIHTC program. These homes will be located across Arizona, California, Georgia, Illinois, Indiana, Louisiana, Massachusetts, Michigan, New York, Oklahoma, Texas, and Wisconsin. Based on national averages, the developments within Fund 120 are projected to generate approximately 2,370 jobs nationwide.

“Fund 120 reflects the trust our investors and developers place in CREA,” said Tom Pereira, EVP, Production. “That trust is built through a consistent, transparent process, allowing us to deliver meaningful, lasting impact in communities across the country.”