Making an Impact: CAHEC at Work
July 1, 2017 – June 30, 2018

CAHEC Capital

CAHEC Capital

CAHEC Capital, Inc. is a nonprofit that serves as the financing affiliate of CAHEC. The company promotes healthy, empowered, and sustainable housing opportunities for low- and moderate-income individuals and their families by providing flexible and affordable loan products to Low Income Housing Tax Credit (LIHTC) developers. In October 2017, the company received recognition by the U.S. Department of Treasury as a certified Community Development Financial Institution (CDFI).

CAHEC Capital, Inc. began lending operations in December 2015. Loans were previously offered by CAHEC in a similar form until the program was formalized with the incorporation of CAHEC Capital, Inc. Since 1999, CAHEC and CAHEC Capital have originated $61 million in loans that have supported the development of approximately 85 affordable housing communities.

In the past 12 months, lending products have helped finance the construction of 766 LIHTC units across four states (NC, VA, WV, and KY) with total development costs exceeding $125 million. Upon completion, these 766 units will serve as homes for an estimated 2,173 low-income residents with 1,543 residents earning at or below 60% of Area Median Income and 630 residents earning at or below 50% AMI.

 

ANNUAL LENDING VOLUME

CUMULATIVE LENDING VOLUME

Predevelopment Loans:

Up to $100k and geared specifically toward nonprofit developers

Carryover Loans:

Up to $750k to support predevelopment costs with a maximum term of 12 months

Bridge Loans:

Loan size is determined based on project underwriting with a maximum term of 24 months

Lending Footprint

CAHEC Capital currently offers financing to LIHTC developments that have an executed equity commitment with a CAHEC-syndicated fund. Our lending target market includes an 11-state footprint (AL, FL, GA, KY, MD, NC, PA, SC, TN, VA, and WV) plus the District of Columbia.

Affordable and Flexible Loan Products

Current loan products are designed to provide critical predevelopment and bridge financing to developers and ensure that LIHTC developments remain financially viable from construction start-up through project stabilization.

CAHEC Capital’s affordable and flexible loan products help offset the substantial upfront costs realized by LIHTC developers, with loan terms not typically available at traditional financial institutions.

The Assembly Apartments

240 units in Greenville, SC. CAHEC Capital’s first completed LIHTC development.

Developer: Flatiron Partners
General Contractor: Creative Builders
Architect: Steele Group Architects
Property Manager: GEM Management

CAHEC Capital, Inc. is a nonprofit that serves as the financing affiliate of CAHEC. The company promotes healthy, empowered, and sustainable housing opportunities for low- and moderate-income individuals and their families by providing flexible and affordable loan products to Low Income Housing Tax Credit (LIHTC) developers. In October 2017, the company received recognition by the U.S. Department of Treasury as a certified Community Development Financial Institution (CDFI).

CAHEC Capital, Inc. began lending operations in December 2015. Loans were previously offered by CAHEC in a similar form until the program was formalized with the incorporation of CAHEC Capital, Inc. Since 1999, CAHEC and CAHEC Capital have originated $61 million in loans that have supported the development of approximately 85 affordable housing communities.

In the past 12 months, lending products have helped finance the construction of 766 LIHTC units across four states (NC, VA, WV, and KY) with total development costs exceeding $125 million. Upon completion, these 766 units will serve as homes for an estimated 2,173 low-income residents with 1,543 residents earning at or below 60% of Area Median Income and 630 residents earning at or below 50% AMI.

ANNUAL LENDING VOLUME

CUMULATIVE LENDING VOLUME

Predevelopment Loans:

Up to $100k and geared specifically toward nonprofit developers

Carryover Loans:

Up to $750k to support predevelopment costs with a maximum term of 12 months

Bridge Loans:

Loan size is determined based on project underwriting with a maximum term of 24 months

Lending Footprint

CAHEC Capital currently offers financing to LIHTC developments that have an executed equity commitment with a CAHEC-syndicated fund. Our lending target market includes an 11-state footprint (AL, FL, GA, KY, MD, NC, PA, SC, TN, VA, and WV) plus the District of Columbia.

Affordable and Flexible Loan Products

Current loan products are designed to provide critical predevelopment and bridge financing to developers and ensure that LIHTC developments remain financially viable from construction start-up through project stabilization.

CAHEC Capital’s affordable and flexible loan products help offset the substantial upfront costs realized by LIHTC developers, with loan terms not typically available at traditional financial institutions.

The Assembly Apartments

240 units in Greenville, SC. CAHEC Capital’s first completed LIHTC development.

Developer: Flatiron Partners
General Contractor: Creative Builders
Architect: Steele Group Architects
Property Manager: GEM Management