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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 Balance Sheet Products

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:

  • Construction Loans
  • Permanent Loans
  • Construction to Permanent Loans
  • Acquisition Loans
  • Bridge Loans

Fannie Mae

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.

  • Acquisition Financing
  • Moderate Rehabilitation
  • Refinancing
  • Bridge Financing

Freddie Mac

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.

  • Acquisition Financing
  • Moderate Rehabilitation
  • Refinancing
  • Bridge Financing

Investment Banking

  • Tax-Exempt and Taxable Municipal Bonds
    • Tax Exempt Private Activity Bonds
    • Tax Exempt 501(c)(3) Bonds
    • Taxable Municipal Bonds
  • Credit Enhanced, Pass-Through, and Escrow Secured Structures - Enhancements by:
    • Fannie Mae
    • Freddie Mac
    • Letter of Credit from rated banks
    • Federal Home Loan Bank wraps
  • Fixed Rate and Variable Rate
    • Fixed Rate Options include Term Bonds, Serial Bonds, Mandatory Tender with Rate Reset
    • Variable Rate with weekly or other reset options
  • Long-term and Short Term
    • Long Term Maturities of 1 – 30 years
    • Short Term Maturities 1- 13 months
  • Remarketing Services
    • Fixed Rate Remarketing upon Mandatory Tender
    • Remarketing of Variable Rate Demand Bonds

Tax Credits

  • Low Income Housing Tax Credit (LIHTC) Equity
  • New Markets Tax Credit (NMTC) Equity
  • Historic Tax Credit (HTC) Equity

Community Development

  • Structured Loan Facilities
  • Equity Investments

Dallas, TX

Citi Community Capital provided a $55.3 million construction loan and a Freddie Mac unfunded forward commitment of $47.3 million in permanent phase financing for 2400 Bryan transaction, a 217-unit newly constructed mixed-income multifamily project. The mixed income development will have apartments set aside for residents from 30% of the Area Median Income up to market rate rents.

Gainesville, FL

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.

El Cerrito, CA.

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.

Texarkana, TX.

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

Citi Community Capital Impact in the Last 12 Months

Through 3/31/2020