#United States #New York #affordable housing #Red Stone Equity #LIHTC

Red Stone Equity Partners Achieves Record Equity in Affordable Housing in 2025

Red Stone Equity Partners LLC, a prominent real estate finance and investment firm, set a new benchmark in 2025 by securing an impressive $1.75 billion in equity specifically for affordable housing. With this achievement, the company has now raised over $13 billion since its inception in 2007. This substantial capital injection is crucial in tackling the escalating affordable housing crisis faced across the United States.

The funds raised in 2025 came from a diverse group of 28 institutional investors. The breakdown of the equity revealed a strategic approach, highlighting the importance of the Low-Income Housing Tax Credit (LIHTC) framework. An impressive $1.275 billion was raised through proprietary LIHTC funds, while an additional $394.1 million was secured from multi-investor LIHTC funds, and $78.7 million came from non-LIHTC preservation fund equity.

In line with its mission, Red Stone Equity's investment funds were instrumental in financing the development of 82 LIHTC properties and three non-LIHTC preservation projects across 28 states, collaborating with 69 unique developer partners. Since its founding, the company has been pivotal in financing the construction and rehabilitation of nearly 900 LIHTC properties, which comprise more than 75,000 units of affordable rental housing. Moreover, the organization has facilitated the setup of 932 megawatts of solar energy installations, further underlining its commitment to sustainability in the affordable housing sector.

Highlighting the achievements of 2025, Red Stone Equity successfully launched and completed two multi-investor LIHTC funds: the Red Stone Equity – Fund 116 Limited Partnership and the Red Stone Equity – Fund 122 Limited Partnership. Fund 116 has raised $224.6 million with the support of nine institutional investors, including several repeat partners. Meanwhile, Fund 122 has garnered $169.5 million, backed by seven institutional investors, with further commitments likely to reach $58.2 million.

Together, these funds aim to support over 35 affordable housing communities, promising the delivery of more than 2,750 high-quality rental homes across the country, while also contributing significantly to local economies and creating approximately 6,980 jobs.

Ryan Sfreddo, Chief Executive Officer of Red Stone Equity, expressed his pride in the company's achievements. He acknowledged the dedication and skill of the Red Stone team, whose hard work has played a crucial role in their success. Sfreddo also emphasized the importance of the trust and support from investors and developer partners who are essential to the company's mission.


In reviewing the past year, 2025 stood out as a significant growth phase for Red Stone Equity, especially considering their expansion into affordable housing preservation, a sector that has increasingly come into focus. The firm has secured nearly $80 million in equity investments directed towards the preservation of 910 affordable rental units across three properties in California and Texas. This initiative serves to safeguard existing affordable housing stock, ensuring continued availability for communities at risk of gentrification and cost increases.

Mike Wiggers, President of Red Stone Equity, highlighted the critical role of preservation in combating the ongoing affordable housing issue. He pointed out that by protecting affordable housing, the firm not only extends the affordability of these properties but also helps stabilize the communities in which they operate.

Looking ahead, Red Stone Equity remains committed to strengthening its organizational infrastructure and expanding opportunities. The company anticipates further investment in leadership and technology initiatives to support its future growth and sustainability efforts. Sfreddo reiterated the importance of transparency and cultural values that are at the core of Red Stone’s operations as they endeavor to continue providing essential affordable housing solutions.

In conclusion, Red Stone Equity Partners' record-breaking fundraising in 2025 illustrates not just the company’s robust operational model but also its deep commitment to addressing one of the most pressing social challenges today: access to affordable housing. The path they have carved out serves as a blueprint for how financial innovation can align with community needs to foster lasting change in the housing market.