About Citi Community Capital
Citi Community Capital ("CCC") is the community lending and investing arm of Citi. It is housed in the Municipal Securities Division of Citi's Institutional Clients Group. Unique among its peers, CCC provides a comprehensive array of financial products, from investment banking to lending and equity investment and designed to create strong communities. We work throughout the country from 13 offices and have been the #1 affordable housing lender in the United States in each of the past seven years as reported by Affordable Housing Finance magazine. That success is due in large part to having the strongest, most innovative team of professionals in the country. Read more >
Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit 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 mortgage banker, 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.
The projects we finance serve special needs populations including our nation's homeless population, seniors and those with disabilities, as well as low income families and individuals. We are the leading investment banker, lender or equity provider in many of the areas in which we participate, and are generally acknowledged to be among the most creative and innovative firms in the industry.
Our work doesn't just stop when we originate, structure and close a transaction; we have full underwriting, asset management and support groups that analyze and manage our transactions from closing through construction and during the life of the asset or program we've financed. Portfolio, risk management and finance professionals ensure that our activities remain within our economic and risk thresholds. With Citi's capital committing capability and team of experienced professionals, we are able to provide financing solutions that are specifically designed to meet each client's needs.
- Oakland, CA - Closed a $37.5 million construction to permanent loan to finance the renovation of St. Mark’s Apartments, an 102-unit senior housing apartment building. Once complete, the finished apartments will have affordability preserved for an additional 20 years.
- San Jose, CA - Closed a $38.5 million construction to permanent loan to finance the tenant-in-place rehabilitation of Villa de Guadalupe Apartments, an existing 101-unit affordable senior (62+) property. The apartments will be income restricted at 35% - 50% of Area Median Income and the affordability of the apartment units will be preserved for an additional 55 years.
- Houston, TX - Closed a $25 million tax-exempt construction loan for Fenix Estates, a 200-unit multifamily property that will be targeted to low income, workforce and market rate families. Citi also provided $10.4 million of low income housing tax credit equity to the project, which will include new office space and supportive services for a number of formerly homeless tenants who will live there.
- Olympia, WA - Provided a $44 million construction-to-permanent loan to finance the acquisition and renovation of Evergreen Village Apartments, a 180-unit rental housing project targeted to lower income residents. The project will have a new 20-year Section 8 contract that will cap qualifying tenants rent payments to 30% of their income.