2-28-20

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EW YORK CITY, NY — The Commu- nity Preservation N Nonprofit housing finance company executes single largest bond sale by a CDFI CPC raises $150 million in Inaugural Public Offering of Sustainability Bonds and community development challenges.”

ISSUE HIGHLIGHTS Volume 32, Issue 4 Feb. 28 - March 12, 2020

As one of the largest CDFIs solely dedicated to multifam- ily housing, CPC expects to deploy the capital raised in furtherance of its nonprofit mission of investing in afford- able and sustainable multi- family housing in New York State and City and throughout the Northeast. “Our successful bond sale signals that the market not only has confidence in the CDFI sector’s ability to de- liver as a solid investment, it also understands that our mission-focused work can cre- ate an impact that goes beyond their bottom line,” said Rafael Cestero , president & CEO, CPC. “CPC is in an unprec- edented position of financial strength. We now have the resources, and with them, the responsibility to define what we can and should be doing to help our partners address their most pressing housing

the strength of CPC as an entity and the importance of their role in financing afford- able housing,” said Marvin Markus , managing director, Goldman Sachs & Co. LLC. In preparation for its sus- tainability bond offering, CPC obtained an independent opin- ion fromSustainalytics, a glob- al leader in ESG research, rat- ings and analysis. Sustainalyt- ics evaluated the alignment of CPC’s sustainability bond platform with relevant indus- try standards and provided views on the robustness and credibility of the Sustainable Bond Framework. As a leading affordable housing lender, and an innovator in the financing of energy efficient construction and retrofits, CPC’s mission- based construction lending aligns with the environmental and social impact principles of the Sustainability Bond Guidelines 2018. 

SPOTLIGHTS

CPC is a “AA-” rated com- pany with a Stable Outlook from S&P Global Ratings. The rating agency cited CPC’s “ex- perienced, proactive manage- ment team and board, which exhibit strong risk oversight and governance capabilities, and a mission-driven growth strategy,” as well as its opin- ion that, “CPC maintains a profitable, well-diversified operation that is distinct from its CDFI peers.” CPC’s issuance was led by Goldman Sachs & Co. LLC with joint bookrunner Siebert Williams Shank &Co., LLC , the nation’s leading woman- owned and minority-owned financial services firm. “Goldman Sachs is hon- ored to have assisted CPC with its inaugural long-term debt offering. The strong re- sults achieved reflect both

C o r p o r a - tion (CPC) , a l e a d i n g n o n p r o f i t mu l t i f a m - i ly f inance c o m p a n y , announ c ed that it raised $150 million

RETAIL DEVELOPMENT REIMAGINED

7-13A

ENVIRONMENTAL/ GREEN BUILDINGS

Rafael Cestero

7-15B

through its inaugural public debt offering of Sustainability Bonds, making it the single largest bond sale completed by a community development financial institution (CDFI). CPC’s offering attracted ap- proximately $300 million in orders, and demonstrated the market’s confidence in the company’s financial strength and its ability to create a posi- tive impact in communities through its mission-focused work. PHILADELPHIA, PA — JLL Capital Markets has arranged financing total- ing $142.6 million for The Hamilton, a core class A, two-phase, 576-unit high- rise apartment building in Center City, Philadelphia. JLL worked on behalf of Radnor Property Group to secure a $70 million, floating- rate loan from Mack Real

UPCOMING CONFERENCES March 25, 2020 5 th Annual PA Healthcare & Medical Conference March 26, 2020 6 th Annual NJ Industrial Development Conference March 26, 2020 Pennsylvania Apartment Association Trade Show & Education Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea@marejournal.com Section C COMMERCIAL OFFICE PROPERTIES

Ade, Hinckley and Cadranell of JLL arranges financing totaling $142.6M for The Hamilton

Estate Credit Strategies (MRECS) to retire the existing construction financing, which

the JLL team arranged in 2017 for the first phase of the develop- ment. Addi- tionally, JLL arranged a $55 million construction l o a n f r om Sa n t a nd e r B a n k a n d $17.6 million in mezzanine f i n a n c i n g , wh i ch was also provided by MRECS, for the de- velopment of Phase II of the property. Phase I of Th e Ham - i l t o n w a s c omp l e t e d in 2019 and f ea t ur e s a

Ryan Ade

Directory Retail Development Reimagined......................7-13A People on the Move............................................14A Organization Events Calendar..............................16A Owners, Developers & Managers............... Section B Environmental/Green Buildings. ......................7-15B Commercial Office Properties..................... Section C www.marej.com

The Hamilton

Broad St. corridor in the Logan Square neighborhood. Due to its centralized location, the property has been awarded a WalkScore of 94 and Transit Score of 100. The JLL Capital Markets debt placement team repre- senting the borrower was led by senior managing director Ryan Ade , managing direc- tor Rob Hinckley and se- nior managing director Jim Cadranell . 

10-story building with 279 res- idential units and a 143-space structured parking garage. Phase II is slated for comple- tion in 2021 and will consist of a 16-story building with 297 residential units and 2,932 s/f of ground-floor re- tail. Replete with amenities, including a rooftop terrace as part of Phase II, the property is situated on a 1.68-acre site at 440 North 15th St. one block from the burgeoning

Rob Hinckley

Jim Cadranell

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