Pedcor Commercial Development - About Us
Old Town Shops PEDCOR COMMERCIAL DEVELOPMENT, LLC
A Limited Liability Company

Pedcor Commercial Development, LLC, A Limited Liability Company (“Pedcor Commercial”) is a recently formed separate commercial business unit established by the members of Pedcor Investments, LLC (“Pedcor”) and designed to capitalize on commercial real estate development opportunities and other strategic real estate acquisitions throughout the United States. The members of Pedcor Commercial possess decades of real estate development and management experience, lead by the long established success of Pedcor.

The business now conducted by Pedcor began in 1987 when its original principals, Gerald K. Pedigo and Bruce A. Cordingley, developed and constructed the first IRC Section 42 Low Income Housing Tax Credit (“LIHTC”) rental housing project in central Indiana. Today, Pedcor is one of the largest developers of affordable housing in the country with almost 14,000 affordable units throughout the nation. Pedcor has established a reputation as an innovative development company with a solid history of identifying active rental housing markets with a demonstrated ability to construct and manage affordable housing developments in compliance with IRC Section 42 (9% LIHTC transactions) and IRC Section 142 (4% LIHTC tax-exempt bond transactions) as enacted by the Tax Reform Act of 1986. In addition, Pedcor owns and manages a 1500+ unit portfolio of class "A" and "B" market-rate apartments.

Pedcor has used a combination of various construction and permanent loan structures. Construction financing has been provided by various community and national lending institutions offering traditional construction loan programs and letter of credit enhancements. Permanent financing for Pedcor’s developments has been provided by Federal National Mortgage Association, FHA 223(f), FHA 221(d)(4), Rural Housing Program, the Federal Home Loan Bank with the assistance of a consortium of member banks, thrifts and savings and loans utilizing various conventional and tax-exempt financing structures. Equity participants include numerous national banks, savings and loans, regional and national syndicators, as well as individuals and large publicly held or privately owned corporations. In aggregate, Pedcor has raised over $595 million in debt and $315 million in equity since its inception.