Ohio Capital Corporation for Housing Closes Ohio Equity Fund 34A

Ohio Capital Corporation for Housing (OCCH) has announced the successful closure of Ohio Equity Fund 34A (OEF 34A). The fund includes $273.5 million in investor equity, aimed at creating or preserving 1,506 affordable housing units in Ohio, Kentucky, West Virginia, and Tennessee.

Woodhill Station East in Cleveland, Ohio, developed by The Community Builders with the Cuyahoga Metropolitan Housing Authority, will benefit from equity in OEF 34A. "I'm thrilled by the level of investor appetite in OEF 34A," said Mary Ann Lang, Executive Vice President of Capital Markets at OCCH.

OEF 34A received investments from 21 banks, with 20 being returning investors. Eleven banks will receive CRA credit through the fund. "Mary Ann and her team have done a fantastic job securing capital for our development partners," noted Jeff Beam, Executive Vice President of Development at OCCH. The capital investment will support 26 affordable housing developments in the region.

Additionally, OCCH's lending affiliate, Ohio Capital Finance Corporation (OCFC), will provide over $50M in financing for 14 developments in the fund. OCCH's philanthropic branch, Ohio Capital Impact Corporation (OCIC), has committed $100,000 to support community-based construction training programs.

"Ohio Equity Fund 34A is an excellent example of our internal teams working together," said Catherine Cawthon, President & CEO of OCCH. OCCH has invested over $6.59 billion in equity, resulting in over 62,000 affordable housing units across 1,035 developments.