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CAHEC Properties Corporation is a non-profit that preserves and owns affordable housing in the Southeast. In addition to being the general partner of over 200 residential properties in five states, we continually pursue investments that align with our core mission of preserving, improving, and expanding affordable housing opportunities.CAHEC Properties Corporation's portfolio is one of the largest USDA Rural Development(RD) portfolios in the United States. Of the 8,551 units in our portfolio, 6,763 receive Rental Assistance through RD.
Our Mission
We envision maintaining a portfolio of sustainable communities, offering affordable housing and life-changing opportunities to each resident.
Our Vision
To foster preservation and ownership, of high-quality affordable housing, for the residents and communities we serve.
We are committed to fulfilling our mission by working with our agency and community partners to secure funding to preserve and improve affordable housing throughout our footprint, thereby fostering sustainable and environmentally friendly communities. CAHEC Properties Corporation is a nonprofit corporation that currently owns over 200 affordable housing properties and is continually seeking opportunities for community economic growth through the acquisition of existing housing in need of rehabilitation and recapitalization.
We are committed to fulfilling our mission by working with our agency and community partners to secure funding to preserve and improve affordable housing throughout our footprint, thereby fostering sustainable and environmentally friendly communities. CAHEC Properties Corporation is a nonprofit corporation that currently owns over 200 affordable housing properties and is continually seeking opportunities for community economic growth through the acquisition of existing housing in need of rehabilitation and recapitalization.
Our History
In 1958, Darnall W. Boyd formed a real estate development and construction company to build custom homes and develop single family subdivisions. His commonsense philosophy and personal involvement in every project continued even as the company grew in size and expertise. Over the years, Boyd & Company completed many developments including single family homes, apartment communities, business centers, warehouse complexes, and a golf and country club community.
In 1978, Mr. Boyd began developing affordable apartment communities through the Farmers Home Administration, a division of the US Department of Agriculture (now called Rural Development), and, in 1985, Boyd Management, Inc. (BMI) was formed to provide high-level property management for these complexes. At inception, BMI managed less than twenty properties and grew to be the largest privately held property management firm of USDA, Rural Development 515 properties in the country managing more than 330 properties.
In 1978, Mr. Boyd began developing affordable apartment communities through the Farmers Home Administration, a division of the US Department of Agriculture (now called Rural Development), and, in 1985, Boyd Management, Inc. (BMI) was formed to provide high-level property management for these complexes. At inception, BMI managed less than twenty properties and grew to be the largest privately held property management firm of USDA, Rural Development 515 properties in the country managing more than 330 properties.
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In 2005, management at BMI discovered the need for solutions to rehabilitate an aging portfolio of rural affordable properties. At that time, WWJ, LLC, the development arm of BMI, joined with Greystone Affordable Housing out of Raleigh, North Carolina to assemble one of the first transactions in the country utilizing 4% LIHTC combined with Tax Exempt Bonds to renovate a portfolio of 21 properties in South Carolina. Since then, we have successfully completed 7 portfolio rehabilitations of properties in 3 states that we still own today.
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In 2020, WWJ and BMI were acquired by CAHEC, a nonprofit LIHTC syndicator based in Raleigh, North Carolina. The development and ownership side of the company is CAHEC Properties Corporation (CPC). CPC now owns 233 properties in Georgia, North Carolina, South Carolina, Tennessee, and Virginia and its focus is to preserve and maintain quality affordable housing. The CPC staff has recapitalized over 180 properties managing all development activities including underwriting, financing, document approval and compatibility, closing, construction and stabilization achievement. CPC is continually involved in the acquisition and rehabilitation of affordable housing, approaches each transaction understanding any success is contingent on collaboration, and seeks opportunities to work alongside other affordable housing professionals in a concerted effort to meet this housing need.
