OCCH Closes $193,200,000 Affordable Housing Equity Fund


July 1, 2014 – Ohio Capital Corporation for Housing today announced the closing of Ohio Equity Fund for Housing XXIV (OEF XXIV) at more than $193 million. This private capital will provide funding for 39 projects with over 2,700 units of affordable housing consisting of single family homes, new construction, and rehabilitated homes for families or persons with special needs and the elderly throughout Ohio and Kentucky. With the critical support of its investors, OEF XXIV will provide much needed affordable housing opportunities in all major Ohio and Kentucky cities and in 18 smaller communities and rural towns.

In a little over two decades, OCCH has raised $3 billion resulting in more than 33,500 units of affordable rental housing in 675 developments. OCCH has grown to be the nation's largest locally controlled capital fund dedicated to the development of low-income rental housing with projects in 84 of Ohio's 88 counties and in Kentucky, Pennsylvania, West Virginia, and Indiana.

Many of the investors in the Ohio Equity Funds have been investing with OCCH since its inception in 1989. These investors continue to support the development and preservation of affordable housing in Ohio and Kentucky.

 
OEF XXIV Investors
JPMorgan Capital Corporation
$40,000,000
Key CDC
$30,000,000
Fifth Third CDC
$25,000,000
US Bancorp CDC
$24,700,000
BB&T
$20,000,000
The Huntington CDC
$20,000,000
FirstMerit Bank NA
$10,000,000
Park National Bank
$8,000,000
First Financial Bank
$5,000,000
Farmers National Bank
$3,000,000
First Federal of Lakewood
$3,000,000
First Federal of the Midwest*
$2,000,000
Citizens Bank
$1,000,000
Springfield State Bank*
$1,000,000
Peoples Exchange Bank*
$500,000
Total Investment
$193,200,000

  *New OCCH Investor

 

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