Marble Cliff Capital News
Addition to our Team!
PRESS RELEASE
Monday, September 27, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC (MCC) is pleased to announce the hiring of Jesse Curll as its Senior Vice President of Asset Management & Special Projects. Jesse was hired to establish the Asset Management platform for MCC’s tax credit investment portfolio and lead tax credit investment closings.
“We are very fortunate and excited to have someone like Jesse as part of our team at Marble Cliff Capital. Jesse brings over 23 years of Asset Management experience to MCC including implementing an Asset Management platform from scratch,” said Marble Cliff Capital President and Founder Jack Kukura.
Jesse was most recently the President of Oliver Capital Efficiency, a consulting firm specializing in affordable housing asset management, LIHTC syndication underwriting, public housing RAD conversions and non-profit restructurings. Jesse has collaborated on over $1 Billion in Real Estate Capital Transactions and has managed market rate, senior, and affordable housing communities since 1999.
Click here for the full press release.
Monday, September 27, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC (MCC) is pleased to announce the hiring of Jesse Curll as its Senior Vice President of Asset Management & Special Projects. Jesse was hired to establish the Asset Management platform for MCC’s tax credit investment portfolio and lead tax credit investment closings.
“We are very fortunate and excited to have someone like Jesse as part of our team at Marble Cliff Capital. Jesse brings over 23 years of Asset Management experience to MCC including implementing an Asset Management platform from scratch,” said Marble Cliff Capital President and Founder Jack Kukura.
Jesse was most recently the President of Oliver Capital Efficiency, a consulting firm specializing in affordable housing asset management, LIHTC syndication underwriting, public housing RAD conversions and non-profit restructurings. Jesse has collaborated on over $1 Billion in Real Estate Capital Transactions and has managed market rate, senior, and affordable housing communities since 1999.
Click here for the full press release.
Closing Announcement: Johnston Crossing, Johnston Iowa
PRESS RELEASE
Wednesday, July 14, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Johnston Crossing – a 50-unit new construction affordable housing project located in Johnston, Iowa. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Iowa Finance Authority.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits through MCC Community Equity Fund 1. Future senior residents will enjoy well-appointed 1 and 2 bedroom units located just 6 miles north of downtown Des Moines. The building will offer secure intercom access from a locked vestibule entrance; a video security system covering the outside, including parking areas, and all levels of stairways, elevators, halls, and non-tenant spaces will be provided. Individual units are accessed from interior hallways, which improves energy efficiency, lowers heating costs, and makes the property more desirable to its senior-resident target market. Common area amenities will include a community room with kitchen; centrally-located, lockable storage units; an elevator; offices for site staff and maintenance; and bike racks.
Click here for the full press release.
Wednesday, July 14, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Johnston Crossing – a 50-unit new construction affordable housing project located in Johnston, Iowa. This project was financed with 9% Low Income Housing Tax Credits (“LIHTCs”) from the Iowa Finance Authority.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits through MCC Community Equity Fund 1. Future senior residents will enjoy well-appointed 1 and 2 bedroom units located just 6 miles north of downtown Des Moines. The building will offer secure intercom access from a locked vestibule entrance; a video security system covering the outside, including parking areas, and all levels of stairways, elevators, halls, and non-tenant spaces will be provided. Individual units are accessed from interior hallways, which improves energy efficiency, lowers heating costs, and makes the property more desirable to its senior-resident target market. Common area amenities will include a community room with kitchen; centrally-located, lockable storage units; an elevator; offices for site staff and maintenance; and bike racks.
Click here for the full press release.
Closing Announcement: The Moreland House, Cleveland, Ohio
PRESS RELEASE
Friday, July 9, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of The Moreland House. Originally constructed in 1923 in the renowned Shaker Square neighborhood of Cleveland, this project will create 23 units of multifamily housing in a walkable area with convenient access to public transit. Congratulations to the entire development team including
Marble Cliff Capital syndicated the federal historic housing tax credits in a single investor tax credit equity fund with CFBank, N.A., and the state historic tax credits with a private investor. Development partner Rakefet Landes will rehab the building consisting of a variety of household sizes, offering nine studio/one-bath, nine one-bedroom/one-bath, and five two-bedroom/one-bath general occupancy units in a single four-story walk-up building. At least 40% of the 23 units will be dedicated to low-income households at no more than 60% of Area Median Gross Income (“AMGI”) and eight units will be floating HOME units, one at 50% of AMI and seven at 80% of AMI.
Click here for the full press release.
Friday, July 9, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of The Moreland House. Originally constructed in 1923 in the renowned Shaker Square neighborhood of Cleveland, this project will create 23 units of multifamily housing in a walkable area with convenient access to public transit. Congratulations to the entire development team including
Marble Cliff Capital syndicated the federal historic housing tax credits in a single investor tax credit equity fund with CFBank, N.A., and the state historic tax credits with a private investor. Development partner Rakefet Landes will rehab the building consisting of a variety of household sizes, offering nine studio/one-bath, nine one-bedroom/one-bath, and five two-bedroom/one-bath general occupancy units in a single four-story walk-up building. At least 40% of the 23 units will be dedicated to low-income households at no more than 60% of Area Median Gross Income (“AMGI”) and eight units will be floating HOME units, one at 50% of AMI and seven at 80% of AMI.
Click here for the full press release.
MCC Inaugural multi-investor fund closes at $53.5 million!!
PRESS RELEASE
Thursday, June 17, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC announced the closing of Marble Cliff Capital Community Equity Fund 1 L.P. (“Fund 1”) – a $53.5 million multi-investor Low Income Housing Tax Credit (“LIHTC”) equity investment fund that will facilitate 419 units of affordable housing across five different states in seven tax credit multifamily housing projects.
In partnership with ten institutional investors, Marble Cliff Capital was able to close its inaugural multi-investor tax credit fund within its first year of operations despite the
unique challenges posed by the COVID-19 pandemic and its rippling effects on the LIHTC equity market.
Click here for full press release
Closing Announcement: Summer Tree Terrace, Jeffersonville, Ohio
PRESS RELEASE
Friday, May 28, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Summer Tree Terrace – a 24-unit rehabilitation of a U.S. Department of Agriculture (“USDA”) – Rural Development (“RD”) subsidized affordable housing project located in Jeffersonville, Ohio. This re-syndication of Summer Tree Terrace with 4% Low Income Housing Tax Credits (“LIHTCs”) will ensure the preservation of critical subsidized housing for years to come in the rural community of Jeffersonville.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits in a single investor tax credit equity fund with CFBank, N.A., and development partner Woda Cooper Communities. Summer Tree Terrace consists of 24 two-bedroom units. The rehabilitation’s scope of work includes energy efficient upgrades throughout the units, new roofing, new flooring, replacement of cabinetry, site lighting, and handicap accessibility upgrades.
Click here for full press release
Closing Announcement: Allegany Junction: Cumberland, Maryland
PRESS RELEASE
Monday, April 5, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Alleghany Junction – a 40-unit new construction affordable housing project in Cumberland, Maryland. This investment in the Cumberland community will provide families with critical affordable housing as the effects of the global COVID-19 pandemic persist.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits with construction lender First United Bank & Trust and development partner Woda Cooper Communities. Once completed, Alleghany Junction will consist of 34 two-bedroom units and 6 three-bedroom units for families with six units dedicated to individuals with disabilities.
Click here for full press release
Monday, April 5, 2021
FOR IMMEDIATE RELEASE
CONTACT:
Jack Kukura
jkukura@marblecliffcapital.com
(614) 353-5353
COLUMBUS, OHIO – Marble Cliff Capital, LLC is pleased to announce the closing of Alleghany Junction – a 40-unit new construction affordable housing project in Cumberland, Maryland. This investment in the Cumberland community will provide families with critical affordable housing as the effects of the global COVID-19 pandemic persist.
Marble Cliff Capital syndicated the federal Low Income Housing Tax Credits with construction lender First United Bank & Trust and development partner Woda Cooper Communities. Once completed, Alleghany Junction will consist of 34 two-bedroom units and 6 three-bedroom units for families with six units dedicated to individuals with disabilities.
Click here for full press release