CHICAGO—As reported last week in GlobeSt.com, theCommunity Investment Corp. has justbegun raising another $200 million for an ongoinglending facility that which will finance the acquisition and rehabof affordable privately-owned rental housing in the metro area overthe next five years. CIC president Jack Markowskitells GlobeSt.com that the group is reaching out to many potentialnew investors. CIC last did a similar round of fundraising aboutfive years ago, and signed a five-year agreement with 40 investorsin 2010.

New potential investors on his target list include majorfinancial institutions like TCF Bank andWells-Fargo, and smaller community banks such asNorth Community Bank, Community Bank ofOak Park-River Forest, and many others. Markowski, aformer commissioner of housing for Chicago, says FannieMae and Freddie Mac are otherpossibilities. “Fannie Mae did not renew with us last time, but Iwant to have another go at them.”

“We've already had consultations with our top 11 investors,those that have invested over $10 million,” he adds. “We surveyedthem, gauged their appetite for renewal, and are now finalizing thenew agreement." At $72 million, Bank of Americawas the largest investor in the last round, and CIC has alreadyreceived new commitments from Chase,Northern Trust, BMO Harris Bank,PNC Bank, the Wintrust FinancialCorp., the PrivateBank and MBFinancial Bank.