Cinnaire, a mission-driven Community Development Financial Institution (CDFI), has secured $85.0 million in new investment capital from investors. This significant funding round will enhance the organization's ability to support affordable housing developments and drive community and economic revitalization initiatives through creative investments, loans, and real estate development services.
With a team of over 170 individuals, Cinnaire is united by its mission to invest in people and places to transform lives. The newly raised capital is poised to expand Cinnaire's capacity to deliver on this mission, allowing for increased deployment of capital into underserved communities. This investment underscores confidence in Cinnaire's proven model for fostering sustainable community growth and providing essential housing solutions.
The $85.0 million in funding will be strategically deployed to scale Cinnaire's core activities, including expanding its portfolio of affordable housing projects and broadening its reach in community development. As a cooperative owner in CPC Mortgage Company, a national mortgage lending company specializing in Freddie Mac, Fannie Mae, and Federal Housing Administration (FHA) finance products, Cinnaire's strengthened financial position will also support its broader impact within the housing finance ecosystem.
This capital infusion marks a pivotal moment for Cinnaire, enabling the organization to accelerate its efforts in addressing critical housing needs and stimulating economic vitality. Cinnaire plans to leverage these funds to pursue further growth initiatives, deepen its impact in existing markets, and explore new opportunities to fulfill its commitment to transforming lives through capital investments and development solutions.
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