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Exact Capital and Armada Development are constructing a $51-million, 100% affordable multifamily in Columbia, SC.

Exact Capital Brings 100% Affordable Community to Columbia with $51M Funding

Exact Capital, together with partner Armada Development, is making its first investment in SC with the development of Villages at Congaree Pointe, a 100% affordable community in Columbia. The community will comprise 240 units in 10, three-story buildings on 14.9-acres along Atlas Road.

The total capitalization of the development is $51 million with construction financing provided by J.P. Morgan Chase and Low-Income Housing Tax Credits from Stratford Capital Group and Monarch Private Capital. In addition to the initial capitalization, Berkadia arranged permanent financing in the form of a Fannie Mae Municipal Tax-Exempt Bond offering.

“The 240 units at The Villages at Congaree Pointe will be rented to residents with 60 percent or less of the Area Median Income,” said managing partner Craig Livingston. “Our investment in this development is consistent with Exact Capital’s commitment to create and preserve affordable housing that adds value to neighborhoods and strengthens the economic and social fabric of communities.


Inside The Story

Exact Capital's Livingston

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing
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