HabiJax Receives $2.6 Million Investment by Northern Trust
JACKSONVILLE, Fla. — Habitat for Humanity of Jacksonville (HabiJax), one of the largest providers of affordable homes in Northeast Florida, recently received a $2.6 million investment from Northern Trust. Proceeds from this transaction will support HabiJax’s mission to serve more families in underserved communities with the construction of affordable homes. The sale of the security backed by 0% interest mortgages from HabiJax was completed with the assistance of Krambo Corporation.
“HabiJax has a tremendous 35-year history of creating safe and decent homes that remain affordable to Jacksonville families,” says Monte Walker, President and C.E.O. of HabiJax. “This partnership with Northern Trust enables us to continue securing land and building quality homes on the First Coast.”
Now more than ever, partnerships with Northern Trust and other organizations are crucial for Jacksonville families struggling with rising housing costs. According to a recent City of Jacksonville Critical Quality of Life Issues Committee report, Jacksonville has remained in the top ten metro areas in the nation for rental price increases since 2019.
Northern Trust has engaged with Habitat for Humanity in communities nationwide over many years through their commitment to sustainable, affordable homeownership.
“We recently celebrated our 50th year of doing business in the state of Florida, and in that time we have invested more than $50 million into local Habitat for Humanity organizations. Northern Trust is proud to partner with HabiJax to support families seeking to build strength, stability, and self-reliance through owning their own home,” said John Donahoo, Northern Trust Senior Managing Director of Northeast Florida.
About HabiJax
Habitat for Humanity of Jacksonville, also known as HabiJax, was founded in 1988 and has become one of the largest providers of affordable housing in Northeast Florida. HabiJax is one of the most successful Habitat for Humanity affiliates in the United States, having provided homeownership opportunities to more than 2,300 families.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 25 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2023, Northern Trust had assets under custody/administration of US$14.5 trillion, and assets under management of US$1.4 trillion.
Visit us on northerntrust.com.
About Krambo Corporation
Krambo Corporation engages solely in the private placement of securities and related financial advisory and support services. In its 54 years of existence, Krambo has privately placed billions of dollars of debt and other financing transactions with institutional investors on behalf of corporate clients, affordable housing entities, and Community Development Financial Institutions (CDFIs).
