Hudson Housing tax credit fund sells $106.1 million

Three real estate fund filings posted to SEC EDGAR this week report $191.4 million sold, led by a $106.1 million sale into Hudson Housing Tax Credit Fund CXXVII LLC. The sold amount equals the fund's stated minimum investment.

Hudson filed Nov. 9 with an indefinite offering amount and a $106.1 million minimum, and reported the same $106.1 million sold. Its first sale was Aug. 7, and Hudson Housing Securities LLC is named as placement agent.

Entry size separates the three funds: Hudson's $106.1 million minimum takes only institutional-scale commitments, while the Ullico feeder's $1.0 million minimum puts it within reach of a family office. Blue Heron has $186.1 million of its $250 million target still to place, the largest open balance of the three.

Blue Heron Real Estate Opportunity Fund V, LP filed Nov. 6 with a $250 million offering and $63.9 million sold, about 26% of the target. Its first sale was Oct. 29, and Pickwick Capital Partners LLC is named placement agent.

Ullico Value-Add Fund I NQO Feeder Fund, L.P. filed Nov. 10 for a $51 million offering, with $21.4 million sold, about 42% of the total. Its first sale was Nov. 4, and Ullico Investment Advisors Inc. is the manager on record. The vehicle is a feeder fund.

Stated minimums run from $1.0 million at the Ullico feeder to $106.1 million at Hudson, and the three vehicles sit in different strategies: housing tax credits, value-add and opportunity-fund strategies.

Deutsche Asset Management launched European Property Debt Fund II on Nov. 9, adding a European real estate debt vehicle to the week's filings. No fund size was disclosed.

Blue Heron and Ullico, between them, have $215.7 million of their $301 million in stated offering amounts still to sell. Hudson's offering amount is indefinite, so its $106.1 million is a running total rather than a share of a target.