(Columbus, Ohio) — Columbus based financial intermediary Ohio Capital Corporation for Housing reached a new milestone with the closing of Ohio Equity Fund XXXI (OEF XXXI) at $312 million. Having secured commitments from 33 investors, including 1 new investor, OCCH has now raised over $5.3 billion in private equity investment and financed more than 53,000 affordable housing units for families, seniors, and special needs populations. Ohio Equity Fund for Housing (OEF) XXXI will provide over 2,600 units of affordable housing in 37 projects, enlarging OCCH’s footprint in Ohio, Kentucky, West Virginia, Pennsylvania, and Tennessee.
“OCCH retains a stable base of investors who continue to impact the essential work of providing affordable housing opportunities to low-income households in diverse communities,” said Catherine Cawthon, OCCH president. “We are pleased that OEF XXXI has attracted the support of these long-term investors as well as new investors. This record $312 million investment will continue to preserve and create much needed affordable homes that make a difference to the quality of life in rural and urban communities.”
OCCH provides the capital to build, change, and revitalize communities, while partnering with a large network of affordable housing providers statewide and nationally. An investment through OCCH supports a company whose profits go right back into and directly impact the communities we serve. We are committed to long-term preservation of affordable housing and support for those that value the future of our communities.
OCCH offers a unique opportunity to investors who are interested in committing a percentage of their equity investment for philanthropic activities. Ohio Capital Impact Corporation (OCIC) administers all philanthropic activities that benefit residents and neighborhoods, such as summer camps and educational, social, and economic opportunities. Those investors who commit funds to this actively support OCIC programs that enrich the lives of residents.
The investors that comprise OEF XXXI include the following financial institutions:
Ohio Capital Corporation for Housing (OCCH) is an independent, non-profit corporation created in 1989. OCCH has raised over $5.3 billion in corporate equity for LIHTC projects involving more than 900 transactions and 53,000 units of affordable housing in Ohio, Kentucky, Pennsylvania, West Virginia and Tennessee. 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.