More Topics:
Kemper W. Baker, Jr. Helps Community Affordable Housing Raise $64.5M - cbl
Posted December 1, 2010
We Recommend...
Goal for Raleigh-Based Community Equity Fund XVI: $200M
By citybizlist Staff
RICHMOND -- Community Affordable Housing Equity Corp. has secured $64.5 million for a proposed $200 million private-equity fund, called Community Equity Fund XVI LP, raising the amount from two investors, according to an SEC filing.
The Raleigh, N.C.-headquartered nonprofit syndicator of the federal low-income housing tax credit program since 1992 is the general partner of the fund.
Principals named in the Reg D filing include , president and CEO of Community Affordable Housing Equity Corp.; Erin Griffin, vice president of finance and administration; Charles Newcomer, vice president of acquisitions and underwriting; Jill Odom, vice president of asset management and compliance monitoring; and Kim Kimbrell, vice president of fund management.
Also named are directors Kemper Baker, G. Maurice Capps, Marilyn Drayton, Roger Earnhardt, Andrew Foster, Carol Jackson, Helen Moore, Jan Roush, Michael Goodmon and Terry Bibleheimer.
From the proceeds, Community Affordable Housing Equity said it would pay $14.5 million to principals.
The firm said it would pay sales commissions of $600,000 to Braintree, Mass.-based Compass Securities Corp.
Reg D filing: http://tinyurl.com/3y2pfzj
Bio from the Office of the Comptroller of the Currency website:
Dana Boole
President and CEO, Community Affordable Housing Equity Corporation
Raleigh, North Carolina
Dana Boole is the President and CEO of Community Affordable Housing Equity Corporation (CAHEC). He has been with CAHEC since 2001. His duties include the management of CAHEC's operations and oversight of its fund raising efforts throughout the United States with primary focus in the mid-Atlantic and southeastern states. His management responsibilities include (1) guiding CAHEC's overall strategy and operations; (2) accountability for CAHEC's growth, furtherance of its mission, and oversight of its financial condition; and (3) provision of the leadership, vision, and resources necessary to maintain the company's strategic competitive advantage. Fund-raising responsibilities include (1) managing the company's activities for federal, state, and historic tax credit funds; (2) diversifying efforts to include multi-investor, private label, and historic-only funds; and (3) sourcing investors through a combination of direct originations and broker relationships.
Mr. Boole came to CAHEC from Edison Capital Housing Investments in Boston. As Acquisitions Director at Edison, he focused primarily on equity syndication in the eastern United States. Before joining Edison, he held positions as Vice President of Acquisitions for National Partnership Investments Corp. and as a commercial real estate consultant for the Leggat Company.
Mr. Boole received his bachelor of arts in economics from the University of Vermont and his MBA in finance and strategy from the F.W. Olin School of Business at Babson College. Mr. Boole currently serves as a Class B Director for the Federal Reserve Bank of Richmond and is a standing member of its Planning and Operations Committee and Audit Committee.
Director bios from Community Affordable Housing site:
Kemper W. Baker, Jr.
Former Vice President and Special Assistant to the President, Federal Reserve Bank of Richmond
Richmond, Virginia
At the Federal Reserve Bank of Richmond, Kemper Baker worked to broaden public awareness of the Federal Reserve System as well as collaborated with many organizations to promote better understanding of economics, banking, central banking, and economic development. Mr. Baker also served on the Executive Board and later as Interim President of the Virginia Council on Economic Education, a nonprofit educational organization that provides economics training and curriculum aid to K-12 teachers throughout Virginia. He is active with The Salvation Army and its Boys and Girls Club as well as with several colleges and universities around the Fifth Federal Reserve District. Mr. Baker is Chair of CAHEC's Board of Directors.
Terry C. Bibleheimer
Investment Manager, Community Lending and Investment, Wells Fargo
Charlotte, North Carolina
Terry Bibleheimer has over 35 years of real estate banking experience including extensive experience working with the Low-Income Tax Credit Program and the New Markets Tax Credit Program. He joined Wachovia's Commercial Real Estate lending in northern Florida in 1988, and moved into the Tax Credit Investment Group in Charlotte, North Carolina, in 1995, where he was a managing director for Finance and Asset Management. In 2002 he became Market Manager of Wachovia's Community Development Finance (CDF) Atlantic Region, and in 2005 his role expanded to include the National Region, which focuses on community development, affordable housing and CDFI clients nationwide. In 2009 Mr. Bibleheimer was named Investment Manager for Wells Fargo's Community Lending and Investment.
G. Maurice Capps, CPA
Managing Partner, Capps, Foster & Company
Hickory, North Carolina
As a Certified Public Accountant and Managing Partner of Capps, Foster & Company, Mr. Capps has over 35 years' experience in public accounting. He is on the Advisory Board of Branch Banking & Trust Company in Hickory; an officer and director of UniWeb, Inc., a fabric manufacturing company located in Columbus, Tennessee; and a board member of Catawba Valley Community College Foundation. Mr. Capps serves as co-general partner of Kenworth Development Group, developers of Kenworth Apartments, a 55-unit low-income housing tax credit project located in Hickory.
Marilyn M. Drayton
Senior Vice President, Director of CRA & Community Development, The South Financial Group
Lexington, South Carolina
Ms. Drayton is Senior Vice President and Director of CRA & Community Development for The South Financial Group. She manages the company's community development lending, service, and investment activities in three states and 12 regional markets. During her tenure, she has successfully secured multiple Bank Enterprise Awards based on the bank's increased lending and investment activities in distressed communities. She has received several distinguished awards and recognition, including Business Partner of the Year and an inaugural recipient of Leaders Teaching Leaders, an executive leadership program of The South Financial Group. Prior to joining The South Financial Group in 2000, Ms. Drayton served as VP and SC Market Manager for Bank of America in its Community Development Banking Division. She is active in her community and serves as a member of various professional boards and civic organizations including the Southern Association for Financial Empowerment, College Summit-SC, Affordable Housing Coalition of SC Investor's Council, Past President of the SC Association of Community Development Corporations and Governor's Affordable Housing Task Force (2001-2002).
Roger L. Earnhardt
Former Executive Vice President and Director, The Community Investment Corporation of North Carolina
Raleigh, North Carolina
Recently retired from the Community Investment Corporation of North Carolina, Mr. Earnhardt has over 30 years of mortgage lending experience. Twenty of those year were spent at First Union Mortgage Corporation (formerly Cameron Brown Co.), and he is a former President of First Citizens Mortgage Company. Mr Earnhardt has been active in state and national mortgage bankers associations; he has served as president of the Mortgage Bankers Association of the Carolinas and as a director and member of the executive committee of the Mortgage Bankers Association of America. He is a past member of the Board of Directors of the North Carolina Housing Finance Agency and the Housing Industry Council of North Carolina.
Andrew H. Foster
Associate Clinical Professor of Law, Duke Law School
Durham, North Carolina
Mr. Foster is Associate Clinical Professor of Law, Duke Law School CED Clinic. He also maintains a limited private practice concentrated in the areas of nonprofit, affordable housing, and community development law. He represents developers; financial institutions; local governments; and local, statewide, regional, and national nonprofits on a wide range of community revitalization projects. Prior to joining the Law School faculty, Mr. Foster practiced full-time with Womble Carlyle Sandridge & Rice, PLLC, where he was a member of the firm's Community Development Law team. Before becoming a lawyer, Mr. Foster held leadership positions with several nonprofit community development organizations based in North Carolina including the Southern Rural Development Initiative, the North Carolina Justice and Community Development Center, the Community Reinvestment Association of North Carolina, and the North Carolina Association of Community Development Corporations.
Michael J. Goodmon
Vice President, Real Estate, Capitol Broadcasting Company, Inc.
Raleigh, North Carolina
Michael Goodmon leads one of the country's most dynamic historic urban mixed-use developments, the American Tobacco Campus in Durham, North Carolina. As vice president of real estate for Capitol Broadcasting Company, Inc., the campus's owner and master developer, Michael manages the day-to-day activities of approximately 1,000,000 square feet of Class A office, restaurant, and retail space. His responsibilities also include scoping and developing new projects and opportunities. Michael has assembled and negotiated a multitude of complex historic and New Markets Tax Credit transactions. He earned a B.S. in mathematical economics from Hampden-Sydney College and a master's in trust and investment management from Campbell University. His board service includes the City of Durham Workforce Economic and Employment Development, the Healing Place of Wake County, the Duke Catholic Leadership Counsel, and the Rocky Mount Chamber of Commerce.
Carol A. Jackson
Former Executive Vice President, Federal Home Loan Bank of Atlanta,
Atlanta, Georgia
Carol Jackson, retired Executive Vice President of the Federal Home Loan Bank of Atlanta, continues to be an active member of the affordable housing community. Ms. Jackson has been appointed by Mayor Shirley Franklin of Atlanta to the boards of the Atlanta Housing Authority and ACORA (Atlanta Coordinating Responsible Authority). The six-person ACORA board is allocating and distributing $55 million in Empowerment Zone Funds to the inner city community. Ms Jackson also serves on the board of MidCountry Financial Corporation. A graduate of Leadership Atlanta, Ms Jackson has held numerous nonprofit board positions and chaired many fund-raising events for these organizations. Ms Jackson was recognized as the 1999 Woman of Achievement by the YWCA of Greater Atlanta.
Helen R. Moore
Executive Management Team, Center for Community Self-Help
Durham, North Carolina
Ms. Moore brings a wealth of housing and economic development experience to CAHEC. She is a member of the Executive Team at the Center for Community Self-Help, a North Carolina nonprofit group. At Self-Help, Ms. Moore works with the Self-Help Credit Union as well as with the Home Mortgage Lending Team and the Secondary Marketing Initiative. Before joining Self-Help, Ms. Moore was Senior Vice President and Manager of Residential Mortgage Lending at Central Carolina Bank. She has also worked as Manager for U.S. Home Mortgage.
Jan Roush
President, Dorchester Corporation, Atlanta, Georgia
Ms. Roush has been active in Affordable Housing since 1978. She was the developer or co-developer of 17 projects with 1,033 units with financing from the Low-Income Housing Tax Credit, HOME loans, Rural Development, HUD, and conventional debt and equity. She remains General Partner of 14 projects. Since 2000, she has been a development consultant and has successfully received one to seven Low-Income Housing Tax Credit awards annually in the southeastern states. She is on the board of the Georgia Affordable Housing Coalition and has been on numerous boards dealing with affordable housing in Georgia and Washington, D.C. She has also been involved as a board member of various homeowners associations, the Episcopal Church, and numerous charities.
blog comments powered by