Freddie Mac invests $50 million in affordable housing in rural, underserved areas

Freddie Mac announced Wednesday it closed a Low-Income Housing Tax Credit fund with CAHEC and initiated several investments within the fund, totaling $50 million, for affordable rental housing in the Middle Appalachia area of the U.S. This closing marks the sixth LIHTC fund that Freddie has closed since re-entering the market last year. This is the first fund managed by CAHEC, which will invest in the creation and preservation of affordable rental housing, according to a release from the GSE. The fund will focus on transactions in typically underserved areas, such as rural communities and developments that provide supportive services.