Clearinghouse CDFI Opportunity Fund | Clearinghouse CDFI Opportunity Fund
|Fund Name||Clearinghouse CDFI Opportunity Fund|
|Fund Manager or Organizer(s)||Clearinghouse CDFI|
Affordable Housing, Commercial Real Estate, Community Revitalization, Economic Development, Hospitality Development, Mixed-use Development, Multifamily Residential, Workforce Housing
Regional Or Local, Arizona, California, Nevada, New Mexico, Texas
|Details if Regional/Local/Other:||Western U.S. States and Native Lands|
|Additional Fund Details|
CCDFI Opportunity Fund:
Expanding on its 22-year history of successfully funding projects that improve our communities through its direct lending and NMTC programs, Clearinghouse CDFI is introducing a new vehicle for community development financing — the Clearinghouse CDFI Opportunity Fund.
The Fund has identified viable and impactful projects throughout the U.S., the first of which, Mariposa Apartments, is presented here.
Purpose: Flexible capital for acquisitions and improvement of Real Estate property located in Qualified Opportunity Zones
Structure: Direct ownership/project sponsor and Preferred equity
Property types: Residential (including multifamily, SROs, rental SFR, homes, co-living, mobile home parks), Mixed-Use, Senior Living and
Target markets: California, Nevada, Arizona, New Mexico, and Tribal Lands (may consider projects outside of the target market depending on project impact and risk)
Preferred Equity Leverage: 90% of capital stack — investments can be combined with Clearinghouse CDFI’s core lending program (www.clearinghousecdfi.com/borrowing)
CCDFI Fund Management: Project management includes pre-development, construction, and stabilization. Asset management includes ongoing oversight of project performance, condition, and market analysis. Compliance – CCDFI Opportunity Fund will provide accounting and compliance services
Hold period: 10+ years
Clearinghouse CDFI is a full-service, community development capital provider, financing projects that create jobs and services to help people work, live, dream, grow, and thrive in healthy communities. The company was established in Orange County, California, in 1996 to serve low-income and disadvantaged communities in Southern California. Since that time, Clearinghouse CCDFI has expanded its service area to include Nevada, Arizona, New Mexico, and Sovereign Nations in the Western United States.
CCDFI currently has on-balance sheet assets totaling over $500MM and has deployed over $538MM in New Markets Tax Credits allocation since its inception. CCDFI has the expertise to identify, develop, and manage real estate assets and provide compliance and accounting services to its Funds. Company highlights include:
|Job Title||CCDFI Opportunity Zone Manager|
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