Woods at Oak Crossing Apartments

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The Woods at Oak Crossing project consists of a 321-unit multifamily rental housing project located at 3120 Nobscot Drive, Indianapolis, Indiana. The Woods at Oak Crossing is owned by JPC Affordable Housing Foundation, Inc., a wholly owned affiliate of the Sole Member.  The Sole Member acquired the membership interest in JPC Affordable Housing Foundation, Inc., an Indiana nonprofit corporation, on February 18, 2016.  JPC Affordable Housing Foundation, Inc. acquired The Woods at Oak Crossing on April 25, 2008, in connection with the issuance of $26,600,000 in aggregate principal amount of City of Indianapolis, Indiana Variable Rate Multifamily Housing Revenue Bonds (Capital Place Apartments, Covington Square Apartments and The Woods at Oak Crossing Projects) Series 2008. As of August 1, 2016, the units in The Woods at Oak Crossing are 91% occupied.  The project has made all debt service payments, when due, and is in material compliance with its financial and operating covenants. The Bonds are supported by a Fannie Mae credit facility.