New York State Housing Finance Agency

Commerzbank with strong start to the year – net profit almost doubled

Retrieved on: 
Wednesday, May 17, 2023

In line with its capital return policy, Commerzbank will distribute 30% of last year’s net profit after deduction of

Key Points: 
  • In line with its capital return policy, Commerzbank will distribute 30% of last year’s net profit after deduction of
    “Commerzbank is in good shape.
  • We had a very good start to 2023, continuing the strong performance of the previous year,” said Chairman of the Board of Managing Directors Manfred Knof.
  • All in all, the net profit after tax and minority interests amounted to €580 million (Q1 2022: €298 million).
  • All in all, Commerzbank is aiming for a net profit well above that of 2022.

EQS-News: Commerzbank with strong start to the year – net profit almost doubled

Retrieved on: 
Wednesday, May 17, 2023

Meanwhile, the European Central Bank (ECB) and the Finance Agency have approved Commerzbank’s first share buyback programme of €122 million.

Key Points: 
  • Meanwhile, the European Central Bank (ECB) and the Finance Agency have approved Commerzbank’s first share buyback programme of €122 million.
  • In line with its capital return policy, Commerzbank will distribute 30% of last year’s net profit after deduction of
    “Commerzbank is in good shape.
  • We had a very good start to 2023, continuing the strong performance of the previous year,” said Chairman of the Board of Managing Directors Manfred Knof.
  • All in all, Commerzbank is aiming for a net profit well above that of 2022.

BFC Partners Awarded $100+ Million NYCHA PACT Deal - the First of its Kind on Staten Island

Retrieved on: 
Thursday, April 20, 2023

NEW YORK, April 20, 2023 /PRNewswire/ -- The New York City Housing Authority (NYCHA) today announced that over $100 million in capital repair needs will be addressed for more than 1,400 residents of the West Brighton I & II developments on Staten Island through the Permanent Affordability Commitment Together (PACT) program, which will greatly improve living conditions at the campus. As a key step in this process, following a year of planning and engagement with residents, NYCHA and resident leaders have selected BFC Partners Development LLC, CB Emmanuel Realty LLC — a Minority Business Enterprise (MBE) — and the non-profit organization Catholic Homes New York to provide comprehensive repairs to 574 apartments across 14 buildings at the site. BFC and CB Emmanuel will also lead as the general contractors, and Pinnacle City Living will serve as the day-to-day property manager when the property converts to Project-Based Section 8. The selection of the PACT partners was made by a resident review committee after an extensive community engagement process beginning in the fall of 2021. This process was supported by a technical advisor, Censere Consulting, through the PACT Resource Team. Resident review committee members reviewed and compared proposals submitted by potential partner teams and conducted interviews with proposing teams. The selected team will spend the next year working with residents to assess property conditions and develop rehabilitation, property management, and social services plans. Construction is slated to start in the summer of 2024.

Key Points: 
  • PACT is consistently delivering results for NYCHA residents across the city, and I'm excited to welcome West Brighton residents to that group."
  • "Congratulations to resident leaders at West Brighton on your selection of BFC Partners, CB Emmanuel Realty, Catholic Homes New York, and Pinnacle City Living."
  • "We are honored to be selected as a PACT partner for West Brighton I & II," said BFC Partners Principal Joseph Ferrara.
  • BFC Partners has strong ties to the community on the North Shore area of Staten Island.

Fannie Mae Announces Priscilla Almodovar as Chief Executive Officer

Retrieved on: 
Thursday, September 29, 2022

WASHINGTON, Sept. 29, 2022 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced that it has appointed Priscilla Almodovar as Chief Executive Officer (CEO) and member of the Board of Directors, effective December 5, 2022. Almodovar will succeed David C. Benson, who has served as Interim CEO and a member of the Board of Directors since May 2022. After her arrival, Benson will continue in his role as President.

Key Points: 
  • Financial services veteran brings more than 30 years of finance, real estate, and community development expertise and a strong commitment to affordable housing
    WASHINGTON, Sept. 29, 2022 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced that it has appointed Priscilla Almodovar as Chief Executive Officer (CEO) and member of the Board of Directors, effective December 5, 2022.
  • Almodovar brings more than 30 years of experience in finance, real estate, and community development across a number of institutions and organizations.
  • "On behalf of the Board of Directors, we are excited to welcome Priscilla Almodovar as our next CEO," said Michael J. Heid, Chairman of Fannie Mae's Board of Directors.
  • Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America.

Homelessness: AHF Uncovers Thousands of Vacant SRO Hotel Rooms Across L.A.

Retrieved on: 
Sunday, September 11, 2022

The ad headlined 4,612 Rooms, highlights a recent investigation and tally of vacant SRO hotel rooms across Los Angeles as the regions homeless crisis continues to escalate without robust or adequate solutions put forth by government and community leaders.

Key Points: 
  • The ad headlined 4,612 Rooms, highlights a recent investigation and tally of vacant SRO hotel rooms across Los Angeles as the regions homeless crisis continues to escalate without robust or adequate solutions put forth by government and community leaders.
  • The results are shocking:
    3,868 SRO units in 25 buildings are sitting vacant or have been converted for other uses.
  • Also in Downtown, The Standard Hotel, with 207 rooms, has been vacant for nearly a year .
  • They include the Clark Hotel (500 units), Cecil Hotel (615 units), Embassy Hotel (330 units), Morrison Hotel (111 units), and Holland Hotel (75 units).

Housing Fintech Trellis Raises Funding to Expand Across Pakistan

Retrieved on: 
Wednesday, November 3, 2021

With this funding, Trellis will expand operations across the country, to further their mission to enable all Pakistanis to realize their dream of home ownership.

Key Points: 
  • With this funding, Trellis will expand operations across the country, to further their mission to enable all Pakistanis to realize their dream of home ownership.
  • Founded in 2020, Trellis set out to give every Pakistani access to affordable housing by establishing a world-class housing finance institution.
  • To date, Trellis has processed over PKR 1 billion (US$ 5.77 million) worth of housing finance inquiries, with numbers growing exponentially daily.
  • By adopting Trellis proprietary, fully-digital mortgage origination platform, these partners can accelerate their housing finance deployments to get more families into homes faster.

The Millennia Companies® Closes on $52 Million in Financing to Renovate Cordoba Courts

Retrieved on: 
Thursday, September 2, 2021

Cleveland, Ohio, Sept. 02, 2021 (GLOBE NEWSWIRE) -- The Millennia Companies (Millennia) has closed on $52 million in financing for the substantial rehabilitation of 175 units of affordable housing for families at Cordoba Courts Apartments in Opa-locka, Florida.

Key Points: 
  • Cleveland, Ohio, Sept. 02, 2021 (GLOBE NEWSWIRE) -- The Millennia Companies (Millennia) has closed on $52 million in financing for the substantial rehabilitation of 175 units of affordable housing for families at Cordoba Courts Apartments in Opa-locka, Florida.
  • Having undergone approximately $2 million in capital improvements since Millennias acquisition in 2016, the property needs considerable rehabilitation and redevelopment to improve its aesthetics and functionality.
  • Since 2004, Millennia Housing Development, Ltd. has preserved more than 11,500 units of affordable housing in collaboration with housing and finance partners.
  • In 1995, Frank T. Sinito founded The Millennia Companies, a high-performance business enterprise with a strong sense of mission to enrich lives.

Citi Tops Affordable Housing Lender Survey for 10th Straight Year

Retrieved on: 
Monday, March 2, 2020

For the 10th year in a row, Citi was named the largest affordable housing lender in the country, according to Affordable Housing Finance (AHF) Magazines annual survey of affordable housing lenders.

Key Points: 
  • For the 10th year in a row, Citi was named the largest affordable housing lender in the country, according to Affordable Housing Finance (AHF) Magazines annual survey of affordable housing lenders.
  • In 2019, Citi Community Capital, the bank unit through which Citi works to finance all types of affordable housing and community development projects, reported over $6 billion of lending to finance affordable rental housing projects.
  • Partnering with developers, non-profits and local governments, Citi has helped create or preserve nearly 488,000 affordable housing units over the past decade.
  • Recent transactions included a $44.4 million new construction loan to build 50 Penn, a 9-story affordable housing development in Brooklyn, NY.

2020 PHFA Housing Policy Fellow named

Retrieved on: 
Monday, December 30, 2019

HARRISBURG, Pa., Dec. 30, 2019 /PRNewswire/ -- The Pennsylvania Housing Finance Agency has named Rachel Fawcett as its inaugural housing policy fellow.

Key Points: 
  • HARRISBURG, Pa., Dec. 30, 2019 /PRNewswire/ -- The Pennsylvania Housing Finance Agency has named Rachel Fawcett as its inaugural housing policy fellow.
  • Fawcett will receive a financial stipend of up to $12,000 during 2020 to conduct research benefiting the affordable housing industry.
  • The Pennsylvania Housing Finance Agency works to provide affordable homeownership and rental housing options for older adults, low- and moderate-income families, and people with special housing needs.
  • Through its carefully managed mortgage programs and investments in multifamily housing developments, PHFA also promotes economic development across the state.

Texas State Affordable Housing Corporation Receives $1.5 Million Investment from Texas Capital Bank

Retrieved on: 
Tuesday, August 6, 2019

Texas Capital Community Development Corporation (TCCDC), a wholly-owned subsidiary of Texas Capital Bank, has awarded the Texas State Affordable Housing Corporation (TSAHC) a $1.5 million community development loan.

Key Points: 
  • Texas Capital Community Development Corporation (TCCDC), a wholly-owned subsidiary of Texas Capital Bank, has awarded the Texas State Affordable Housing Corporation (TSAHC) a $1.5 million community development loan.
  • Texas Capital Bank and its subsidiary Texas Capital Community Development Corporation have also awarded TSAHC a renewable, three-year $15,000 grant in conjunction with the community development loan.
  • We are very grateful to Texas Capital Bank and the Texas Capital Community Development Corporation for their continued support, said David Long, TSAHC President.
  • Texas Capital Community Development Corporation is a wholly owned subsidiary of Texas Capital Bank that focuses on financing affordable housing projects, housing for the elderly and transitional housing for the homeless.