Citi Community Capital (CCC) provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance, and acquire affordable multifamily housing across the country. Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit affordable housing developers, Community Development Financial Institutions, and state and local government agencies.
Our financings may employ a combination of taxable and tax-exempt loans or bonds; Low Income, Historic or New Markets Tax Credits; and government and private subsidies. CCC can provide capital directly or as an intermediary. We are a construction lender and a permanent lender, a Fannie Mae and Freddie Mac lender, and principal in unique equity investments – all designed to improve neighborhoods, create jobs, or improve the health care services or educational opportunities available to the communities we serve.
Citi offers competitive financing products to help developers with the construction and rehabilitation of affordable multifamily housing. Citi Community Capital offers a "one stop" shop and seamless financing execution for our developer clients. Products include:
As a Fannie DUS lender, Citi provides fixed rate and adjustable rate financing products for the acquisition, refinancing, and moderate rehabilitation of affordable multifamily housing.
As a Freddie Mac Targeted Affordable Housing (TAH) Seller/Servicer, Citi provides fixed rate and adjustable rate financing products for the acquisition, refinancing, and moderate rehabilitation of affordable multifamily housing.
Citi Community provided a $17.8 million construction and a Freddie Mac unfunded forward commitment for up to $11 million perm financing for the Texarkana RAD transaction, a 294-unit multi-property affordable multifamily project located in Texarkana, TX.
Citi closed a $13.25 million construction loan to a $4.05 million permanent financing to build Grove at Sweetwater Preserve, a 100% affordable 96 –unit apartment complex. The new units will be offered first to previous residents of Woodland Park that were displaced prior to demolition of the old units. Resident enhancement amenities at The Grove at Sweetwater Preserve will include literacy training, employment assistance and a family support coordinator, among others.
Citi financed the $50 million construction and permanent financing of Mayfair apartment, a 156-unit transit oriented mixed-use development. All of the units will be built offsite and then assembled on the property lowering construction costs and shortening the construction time.
Citi provided a $17,000,000 construction loan to finance the Hotel Grim Apartments, a gut rehab for the adaptive reuse of a vacant former hotel into affordable apartments. Located in Texarkana TX, the former Hotel built in the 1920’s has been vacant since 1990. When complete the 93 apartments will be reserved for families with incomes of 50-60% of Area Median Income