Omni is a vertically integrated, full-service affordable housing finance platform focused on the creation and preservation of high-quality affordable housing to low-income individuals and families nationwide. Since inception, Omni has raised $2.1 billion of equity and $1.4 billion of debt to acquire, rehab and build more than 19,000 affordable housing units.
CAPITAL RAISING & STRUCTURING
Stone Point was instrumental in helping Omni secure third-party financing, including its first corporate credit facility to provide working capital for the company. In addition, we helped the company complete the securitization of cash flows from its portfolio of stabilized affordable housing assets. The securitization was one of the first securitizations completed within the affordable housing industry.
Stone Point played a key role in helping Omni source several large portfolio acquisitions, including securing the acquisition of a 26-property affordable housing portfolio from SunTrust Bank in 2015. The acquisition helped the company expand its presence from three states before Trident’s investment to 13 states as of May 2023.
As part of the elephant process, Stone Point met several low-income housing tax credit (“LIHTC”) syndicators and fund managers. Stone Point helped source and execute Omni’s acquisition of CREA, a leading LIHTC syndicator and fund manager.
INDUSTRY KNOWLEDGE & NETWORK
Stone Point assisted Omni with the recruiting of several senior executives. Stone Point assisted CREA, an Omni subsidiary, in raising investor equity for its funds by introducing CREA to banks and insurance companies within our network.
Stone Point provided strategic advice to help the vertical expansion of the company into LIHTC fund management and service offerings from owned properties to third parties. In addition, Stone Point worked closely with the company to expand its participation in the New York City Housing Authority Permanent Affordability Commitment Together (NYCHA PACT) program and broaden its market presence to multiple geographies.
We are thankful for our partnership with Stone Point and their unwavering support for our shared commitment towards providing quality affordable housing across the United States. Stone Point’s real estate expertise and extensive network have helped us pursue new opportunities and expand our reach within affordable housing. We consider the Stone Point team not only partners but also friends for life.
Gene Schneur currently is an investor in one or more Stone Point funds and has, and may have in the future, other business relationships with Stone Point and its affiliates. Gene Schneur’s views with respect to Stone Point are not necessarily indicative of the views of other investors in Stone Point funds.
Investments highlighted or discussed in this selection have been selected to illustrate SPC’s investment approach and/or market outlook and are not intended to be an indicator of past or future performance. Each investment discussed in this selection has been selected solely for this purpose and has not been selected on the basis of performance or any performance-related criteria. The investments discussed herein do not represent an entire portfolio and in the aggregate may only represent a small percentage of holdings. Nothing in this presentation shall constitute a recommendation or endorsement to buy or sell any security or other financial instrument referenced herein.