About the Business
Based in Toronto, the Cacoeli group is comprised of Cacoeli Capital Inc. (investor relations & capital fundraising), Cacoeli Asset Management Inc. (real estate investment & asset management), and Cacoeli Living (property management). These companies work in concert with one another to uncover and implement initiatives that will create social value. Cacoeli’s Real Estate Opportunity Fund Trust finances the purchase of multi-family rental properties and purpose-built rental development projects to create new alternative housing options in Canada.
About the Loan
Vancity Community Investment Bank (VCIB) provided $3,450,000 to refinance a mortgage for a property located on Jane Street East, in the City of Vaughan, Ontario. The property, owned by Cacoeli Terra Vaughan Ltd. and developed by TerraBona Developments Ltd., will lease 30 units to one of Canada’s top accredited non-profit organizations to accommodate 90 individuals with developmental disabilities. The building will also offer 44 affordable-rent units and will integrate meeting rooms, a childcare centre, an office space for support workers, and other amenities.
About the Impact
Canada’s ownership economics disproportionately impacts socio-economically disadvantaged groups, forcing them into unfavourable peripheries. Seeing this problem, Cacoeli formed values-aligned partnerships with TerraBona Developments, accredited non-profit organizations, and VCIB, to develop inclusive, affordable, and high-quality housing that is conveniently located within a key urban area.
Thanks to extensive research, Cacoeli’s project will be located within proximity to key transportation routes that have access to critical urban infrastructure; employment, education, and grocery stores.
“As a progressive investor and provider of residential rental housing, I see Cacoeli as having the responsibility to balance both business and social responsibilities to meet our investors’ objectives while at the same time addressing the urgently needed demand for affordable housing.
We are proud to spearhead, together with our development partner and with the support of VCIB, this important development project of affordable housing in the City of Vaughan.”
– Jedidiah Liu, CEO of Cacoeli
As Canada’s only values-driven bank, VCIB is on a mission to accelerate the growth of inclusive and affordable housing. VCIB’s strategic and financial partnership will support Cacoeli’s mixed-use rental housing development to create a community of vibrancy and inclusivity.
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