Real Estate Acquisition Loan
Appalachian Field Services, a newly worker-owned business cooperatized under the Obran worker-owned holding company, seeks to acquire row houses in disinvested Baltimore neighborhoods, raise capital to pay themselves to renovate those properties, and then rent them as low-cost housing for their workers, community members, and for people in long-term recovery, with the properties held in a real-estate investment trust, thereby removing the properties from the speculative market and moving them under community control. These first three acquisitions are proof of concept for the larger model.
Other Loans to This Co-op
This is the first loan to this cooperative.