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PNC Multifamily Capital has closed its LIHTC Fund 98, amassing commitments of more than $208 million for the development and rehabilitation of affordable housing across the U.S.

Investors included PNC and seven other financial services and insurance companies. Two of the capital providers were new to the company’s LIHTC funds.

The investment vehicle will finance the construction or rehabilitation of more than 2,000 affordable units in 15 communities across 11 states. The properties cater to families, but also seniors, people experiencing homelessness and those with special needs.