Regions Bank Integrates Community Investment Capital & Syndication Businesses into Combined Regions Affordable Housing Division
27 April 2018 - 11:00PM
Business Wire
Regions Bank today announced the integration of its affordable
housing businesses into one division. Regions Community Investment
Capital and Regions First Sterling (formerly First Sterling) have
combined to become Regions Affordable Housing, a national Low
Income Housing Tax Credit (LIHTC) syndication firm and leader in
affordable housing.
Regions Affordable Housing offers LIHTC syndication, financing
and asset management to new and existing developer and investor
clients. With a nationwide sales team and comprehensive asset
management platform, the business has originated $4.4 billion in
equity investments in 1,200 assets located in 45 states, the
District of Columbia and Puerto Rico.
“Over the past 18 months, Regions has expanded its affordable
housing platform to provide comprehensive lending, capital raising
and equity investment solutions to developers nationwide,” said Rob
Chiles, President of Regions Affordable Housing. “Following the
full integration of First Sterling Financial businesses and
experienced associates, we are rebranding our combined business as
Regions Affordable Housing to provide our clients with one
integrated team to meet their broad financial needs.”
Regions Bank acquired the LIHTC corporate fund syndication and
asset management businesses of First Sterling Financial, Inc. in
October of 2016. Regions Bank is one of the nation’s largest
participants in affordable housing finance through the LIHTC
Program and provides comprehensive real estate banking and capital
management services to meet the debt and capital needs of
developers and investors. Regions Bank originates and places agency
debt with the U.S. Department of Housing and Urban Development and
is also a Fannie Mae Delegated Underwriting and Servicing
Multifamily Affordable Lender.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with
$123 billion in assets, is a member of the S&P 500 Index and is
one of the nation’s largest full-service providers of consumer and
commercial banking, wealth management, mortgage, and insurance
products and services. Regions serves customers across the South,
Midwest and Texas, and through its subsidiary, Regions Bank,
operates approximately 1,500 banking offices and 1,900 ATMs.
Additional information about Regions and its full line of products
and services can be found at www.regions.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180427005087/en/
Regions BankEvelyn Mitchell,
205-264-4551regions.doingmoretoday.comRegions News on Twitter:
@RegionsNewsorRegions Affordable HousingNina Galluzzo,
516-869-7401
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