Submitted by KeyBank
Nine organizations have come together to create a financing vehicle that positions homeowners in Colorado manufactured home communities to successfully purchase their neighborhoods when they come up for sale.
ROC USA® Capital and Thistle Community Housing partnered with Colorado Housing and Finance Authority (CHFA), Colorado Health Foundation, Colorado Trust, Ally Bank, KeyBank, Mercy Community Capital, JPMorgan Chase and Thistle Community Housing to secure a $55 million capital pool last month. State law gives Colorado homeowners a short window to organize and secure financing to match a competing offer when their community is for sale.
“KeyBank is proud to help expand access for affordable housing for residents in Colorado”, said Brian Maddox, national leader of KeyBank’s Community Development Financial Institutions (CDFI) team. “Our $11 million investment is a part of our commitment to the communities we serve and builds on the success of our National Community Benefits Plan.”
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $176.2 billion at March 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
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