Ohio Capital Corporation for Housing Has Record Year of Investment:  Raises $353 Million for Affordable Housing Development and Loans $92 Million through the Ohio Capital Finance Corporation


OCCH closed out 2015 with a record amount of equity raised--$353 million, including a $280 million Ohio Equity Fund for Housing XXV (OEF XXV), the largest fund closing to date, and a $73 million proprietary fund with Huntington National Bank, Fifth Third CDC, Nationwide Insurance, and RBS (Royal Bank of Scotland). The private capital will provide funding for 50 developments that will create or preserve more than 2,500 units of affordable housing in Ohio and Kentucky.

 Twenty-one investors provided capital to OEF XXV, which included the addition of six new investors to the Fund. JPMorgan Capital Corporation, an investor in 24 previous Ohio Equity Funds, provided a record $61 million to OEF XXV. Investors in OEF XXV are listed in the adjacent table.

Ohio Capital Finance Corporation Celebrates Accomplishments in Lending
The Ohio Capital Finance Corporation, a certified Community Development Finance Institution (CDFI) and the lending affiliate of OCCH has loaned $374 million in total loan production since 2002 to partners. OCFC was created to meet the needs of affordable housing developers and provides a full range of services including predevelopment financing, acquisition financing, equity bridge/construction loan financing, and permanent financing.
In 2015, OFCC generated $92.6 million in loan production through 67 loans, utilized to develop and preserve over 2,700 units of affordable housing.

 

Investor

OEF XXV  Investors

JPMorgan Capital Corporation (Chicago IL)

$61,000,000

US Bancorp CDC (St. Louis MO)

$40,000,000

The Huntington CDC (Columbus OH)

$35,000,000

Nationwide Insurance (Columbus OH)

$30,000,000

Key CDC (Cleveland OH)

$25,000,000

BB&T (Raleigh NC)

$20,000,000

Fifth Third CDC  (Cincinnati OH)

$20,000,000

FirstMerit Bank NA (Akron OH)

$12,000,000

First Financial Bank (Cincinnati OH)

$10,000,000

Park National Bank (Newark OH)

$9,000,000

CNB Bank (Clearfield PA)

$5,000,000

Waterford Bank (Toledo OH)

$2,500,000

Cortland Banks (Cortland OH)

$2,000,000

WesBanco (Wheeling WV)

$2,000,000

Citizens Bank (Martins Ferry OH)

$1,000,000

Civista Bank (Sandusky OH)

$1,000,000

Heritage Bank (Burlington KY)

$1,000,000

LCNB (Lebanon OH)

$1,000,000

Stock Yards Bank (Louisville KY)

$1,000,000

Talmer Bank (Troy MI)

$1,000,000

Peoples Exchange Bank (Winchester KY)

$500,000

TOTAL INVESTMENT

$280,000,000

  *New OCCH Investor

 

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