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RICHMOND, Va., May 8, 2021 /PRNewswire/ -- EquityPlus LLC today announced the successful sale of $16 million in bonds issued by the Richmond Redevelopment & Housing Authority. Proceeds from the bond sale will finance renovations to the Shockoe Hill Senior Apartments, a 100 percent affordable housing complex owned by Capital Realty Group, and the construction of a new community wellness center for its residents in Richmond, Virginia.
"We are delighted to support Richmond's affordable housing efforts," said Avram Fechter, Managing Director of EquityPlus LLC. "The success of this financing reflects the strength of the four-percent-floor bond market, resilience during these challenging times and, most importantly, a collective understanding of the urgent need to create and preserve affordable housing."