PNC does not charge a fee for Mobile Banking. However, third party message and data rates may apply. These include fees your wireless carrier may charge you for data usage and text messaging services. Check with your wireless carrier for details regarding your specific wireless plan and any data usage or text messaging charges that may apply. Also, a supported mobile device is needed to use the Mobile Banking App. Mobile Deposit is a feature of PNC Mobile Banking. Use of the Mobile Deposit feature requires a supported camera-equipped device and you must download a PNC mobile banking app. Eligible PNC Bank account and PNC Bank Online Banking required. Certain other restrictions apply. See the mobile banking terms and conditions in the Digital Services Agreement.
PITTSBURGH, Jan. 4, 2011 – PNC announced today the successful completion of PNC Tax Credit Capital Institutional Fund 45; a $256 million investment limited partnership which closed on Dec. 22, 2010.
The $256 million fund is comprised of investments in 31 operating partnerships involving multifamily housing properties targeting families and seniors earning 60 percent or less of area median income. Properties owned by the Fund are located in 18 states, and total 3,785 apartment units. Property locations include California, Louisiana, Florida, Michigan and Indiana.
Twelve institutional investors acquired limited partnership interests in the Fund. The investor will derive a return based primarily on the receipt of Low Income Housing Tax Credits and passive losses from real estate depreciation.
“This marks our largest tax credit equity fund syndication and shows continued interest in PNC sponsored funds despite challenging economic conditions,” said Todd Crow, executive vice president, PNC Real Estate and manager of Tax Credit Capital. “We recognize the vital importance of these properties for the many families and seniors that make their homes in them.”
PNC Real Estate is a member of The PNC Financial Services Group, Inc. (NYSE: PNC).
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news, updates and announcements from PNC.
CONTACT:
Tim Rice
(412) 762-8033
