Nehemiah Raises $26MM for New RE Fund

Nehemiah Corp. of California, Sacramento, has reported raising $26 million in first-round financing for the Nehemiah Sacramento Valley Fund, a real estate equity fund formed to invest in mixed-use development projects in low- and moderate-income communities in the Sacramento Valley region.Sponsored by the Nehemiah Community Reinvestment Fund and managed by Pacific Coast Capital Partners, NSVF has received investments from California Federal Bank, California State Automobile Association, Union Bank, Washington Mutual, and Wells Fargo Bank, as well as Nehemiah. "The Nehemiah Sacramento Valley Fund is a significant part of our organization's overall strategy to encourage urban renewal through comprehensive, geographically focused affordable housing and community redevelopment programs," said Scott Syphax, president and chief executive officer of Nehemiah. Nehemiah can be found online at http://www.getdownpayment.com.