(Columbus, Ohio) — Columbus based financial intermediary Ohio Capital Corporation for Housing reached a new milestone with the closing of Ohio Equity Fund XXX (OEF XXX) at $302 million. Having secured commitments from 25 investors, including 2 new investors, OCCH has now raised over $5 billion in private equity investment and financed more than 50,000 affordable housing units for families, seniors, and special needs populations. Ohio Equity Fund for Housing (OEF) XXX will provide over 3,100 units of affordable housing in 38 projects, enlarging OCCH’s footprint in Ohio, Kentucky, West Virginia, and Pennsylvania.
“We are pleased that during this unprecedented pandemic and economic uncertainty, OCCH, with support from our investment partners, is able to continue the impactful and essential work of providing affordable housing opportunities to low income households in rural and urban communities,” said Peg Moertl, OCCH president. “With this substantial investment, our partners will continue to preserve and create much needed affordable homes that make a difference to the quality of life in our communities.”
“OCCH has been fortunate to retain a stable base of investors throughout the years who are committed to strengthening and growing vibrant, sustainable, and affordable communities” said Jon Welty, OCCH vice president. He continued to say “OCCH is especially grateful to the ‘Impact Investors’ of OEF XXX, those who commit a percentage of their equity investment to the Ohio Capital Impact Corporation (OCIC)”. OCIC administers all philanthropic activities that benefit our residents and neighborhoods, such as summer camps and educational and economic opportunities, and we are grateful for their combined $1,000,000 to support OCIC programs.”
The investors that comprise OEF XXX include the following financial institutions:
Ohio Capital Corporation for Housing (OCCH) is an independent, non-profit corporation created in 1989. OCCH has raised over $5 billion in corporate equity for LIHTC projects involving more than 860 transactions and 50,000 units of affordable housing in Ohio, Kentucky, Indiana, Pennsylvania and West Virginia. OCCH has an affiliated property management and supportive services organization, Community Properties of Ohio Management Services, a lending subsidiary, Ohio Capital Finance Corporation, a certified Community Development Finance Institution (CDFI) and a member of the Federal Home Loan Bank of Cincinnati and a philanthropic affiliate, Ohio Capital Impact Corporation. OCCH is an endorsed business of the Ohio Bankers League and the Kentucky Bankers Association.