Client Login
Contact
About Us
Institutional Investment
Developer Partners
In the News

Press Releases

FOR IMMEDIATE RELEASE

March 15, 2010

RAYMOND JAMES TAX CREDIT FUNDS
SUPPLIES $8 MILLION FOR
LIHTC PROJECT IN PATCHOGUE, NEW YORK

ST. PETERSBURG, Fla. – Raymond James Tax Credit Funds, a leader in the LIHTC market for more than 25 years, has partnered with Capital One Financial Corporation to provide $8 million in LIHTC equity for the construction of 45 units of studio/living space for artists. The Artspace Patchogue Lofts, which is already under construction and scheduled for completion by December 2010, will be a five-story building containing two commercial units on the ground floor and 45 units of affordable live/work housing for artists and their families.

The closing of the deal marked the opening of a new fund between RJTCF and Capital One Financial Corporation, Raymond James Housing Opportunities Fund 10, L.L.C

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N. A., had $115.8 billion in deposits and $212.0 billion in total managed assets outstanding as of December 31, 2009. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

About Raymond James Tax Credit Funds
Raymond James Tax Credit Funds is a wholly owned subsidiary of Raymond James Financial, Inc. (NYSE-RJF). Since 1969, subsidiaries of RJF have been among the leading syndicators of affordable housing. Raymond James Tax Credit Funds has raised over $2.5 billion in equity for more than 1,200 properties in 43 states since the inception of the tax credit program in 1986.

– 30 –

For additional information, please contact Tammy Eitel at 727-567-2824.
Please visit the Raymond James Press Center at raymondjames.com/media.

For more information, visit rjtcf.com.