Company Profile: Cahec Mm Llc

Background

Overview

Cahec Mm Llc is a real estate firm based in Raleigh, North Carolina, primarily operating in the real estate brokers and agents sector. Established in 2019, the company has been active for approximately six years. It is estimated to generate annual revenues of $2.6 million and employs approximately 69 people at its single location.

Mission and Vision

Cahec Mm Llc's mission is to provide communities with affordable housing and opportunities for growth and revitalization by investing in qualified tax credit products. The company envisions sustainable communities offering housing and life-changing opportunities to their residents.

Industry Significance

As a nonprofit equity syndicator, Cahec Mm Llc plays a significant role in the affordable housing sector, particularly in the Southeast and mid-Atlantic regions of the United States. By investing in low-income housing tax credits and other tax credit products, the company contributes to the development and preservation of affordable housing, thereby fostering community growth and revitalization.

Key Strategic Focus

Core Objectives

The company's primary objectives include:

Affordable Housing Development: Investing in and developing affordable housing projects to meet the needs of low- and moderate-income individuals and families.

Community Revitalization: Utilizing tax credit products to stimulate economic growth and revitalization in underserved communities.

Sustainable Communities: Promoting the creation of sustainable communities that offer residents both housing and opportunities for personal and economic growth.

Areas of Specialization

Cahec Mm Llc specializes in:

Low-Income Housing Tax Credits (LIHTC): Investing in LIHTC projects to finance the construction and rehabilitation of affordable housing.

Historic Tax Credits: Funding the rehabilitation of historic properties to preserve cultural heritage while providing affordable housing.

New Markets Tax Credits (NMTC): Investing in community development projects that stimulate economic growth in low-income areas.

Key Technologies Utilized

The company employs financial modeling and analysis tools to assess the viability and impact of its investments. Additionally, it utilizes project management software to oversee the development and rehabilitation of properties.

Primary Markets Targeted

Cahec Mm Llc focuses on markets in the Southeast and mid-Atlantic regions of the United States, including states such as North Carolina, South Carolina, Georgia, Florida, and Virginia.

Financials and Funding

Funding History

As a nonprofit organization, Cahec Mm Llc raises capital through various means, including:

Equity Syndication: Pooling funds from investors to finance affordable housing projects.

Tax Credit Investments: Investing in federal and state tax credit programs to generate returns and fund projects.

Recent Funding Rounds

Specific details about recent funding rounds are not publicly disclosed. However, the company has a history of raising substantial capital for its initiatives. For instance, in 2023, CAHEC raised equity capital of $185,042,807 and invested in 1,077 housing units.

Notable Investors

While individual investor names are not publicly disclosed, CAHEC collaborates with various institutional investors, including foundations, banks, and other financial entities interested in community development and affordable housing.

Utilization of Capital

The capital raised is utilized for:

Acquiring and Developing Properties: Financing the purchase and development of affordable housing units.

Rehabilitation Projects: Renovating existing properties to meet current standards and preserve affordability.

Community Investments: Funding programs and services that support residents and enhance community well-being.

Pipeline Development

Key Pipeline Candidates

Cahec Mm Llc is involved in several projects, including:

Pembrook Apartments: A rehabilitation project in Pamplico, South Carolina, comprising 24 units.

West End Manor: A rehabilitation project in Union, South Carolina, comprising 28 units.

Stages of Development

Both projects are in the rehabilitation stage, with completion expected in December 2023.

Target Conditions

The projects aim to provide quality affordable housing for rural families in South Carolina.

Anticipated Milestones

Completion and occupancy of the rehabilitated units are anticipated by December 2023.

Technological Platform and Innovation

Proprietary Technologies

Cahec Mm Llc utilizes proprietary financial modeling tools to assess investment opportunities and project feasibility.

Significant Scientific Methods

The company employs data-driven approaches to evaluate market conditions, demographic trends, and economic factors influencing investment decisions.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, the company likely employs advanced analytics and machine learning algorithms to optimize investment strategies and project outcomes.

Leadership Team

Key Executives

Dana Boole: President and Chief Executive Officer. Under his leadership, CAHEC has expanded its impact in the affordable housing sector.

George Baker: Vice President, CAHEC Properties Corporation. He oversees property management and development initiatives.

Brenda Keely: Manager, Finance / Finance and Human Resources Specialist Director. She manages financial operations and human resources.

Amy Cross: Manager, Communications Director. She handles communications and public relations.

Brian Oxford: Manager, Community Capital / Manager, Acquisitions and New Markets Director. He focuses on community capital initiatives and new market acquisitions.

Leadership Changes

In October 2020, CAHEC acquired Boyd Management, Inc., which led to the formation of CAHEC Management, Inc. This strategic move expanded the company's property management and development capabilities.

Competitor Profile

Market Insights and Dynamics

The affordable housing sector is experiencing growth due to increasing demand for low- and moderate-income housing. Government incentives, such as tax credits, continue to play a significant role in financing these projects. The market is competitive, with numerous organizations vying to provide affordable housing solutions.

Competitor Analysis

Key competitors include:

Habitat for Humanity: Focuses on building and rehabilitating homes for low-income families.

Enterprise Community Partners: Provides financing and technical assistance for affordable housing projects.

National Equity Fund: Invests in affordable housing through the Low-Income Housing Tax Credit program.

Strategic Collaborations and Partnerships

Cahec Mm Llc collaborates with various partners, including:

Monarch Private Capital: Partnered to finance affordable family housing in South Carolina.

Boyd Management, Inc.: Acquired in 2020 to enhance property management and development capabilities.

Operational Insights

Cahec Mm Llc differentiates itself through its comprehensive approach, combining equity syndication, property management, and community investment to create sustainable and affordable housing solutions.

Strategic Opportunities and Future Directions

The company aims to expand its portfolio by acquiring and rehabilitating additional properties, particularly in underserved regions. Leveraging its expertise in tax credit financing and property management, Cahec Mm Llc is well-positioned to address the growing demand for affordable housing.