The Chicago office of Merchants Capital announced that it has closed a 221(d)(4) new construction/permanent loan for Metro 19 Apartments in Roselle, IL. The U.S. Department of Housing and Urban Development-insured loan will provide construction and permanent financing for 295 transit-oriented, multifamily units adjacent to the Roselle Metra commuter rail station situated half a mile east of the Main Street commercial district. Merchants Capital securitized the loan and worked closely with the AFL-CIO Housing Investment Trust (HIT), which purchased the Ginnie Mae-backed security that guarantees the timely payment of principal and interest on the Metro 19 loan.
Related Posts
Boston Financial Ranked #1 Syndicator of Affordable Housing for Fourth Consecutive Year By NMHC
Boston Financial announced it has been ranked the largest LIHTC multifamily housing syndicator for the fourth consecutive year by National Multifamily Housing Council (NMHC).
Woda Cooper Companies Develops Permanent Supportive Housing
Woda Cooper Companies and Cherry Health announced that Michigan State Housing Development Authority has awarded housing tax credits to Shea Ravines, a new $18.2 million 56-unit affordable housing community with 20 Permanent Supportive Housing (PSH) units in Wyoming, MI.
Merchants Capital Promotes Chris Messmann to Executive VP in its Tax Credit Equity Division
Merchants Capital announced that it has expanded its executive leadership team with the promotion of Chris Messmann to executive vice president.
Hunt Capital Partners Transfers Ownership of 74-Unit Alabama Development to Neighborhood Concepts, Inc.
Hunt Capital Partners (HCP) announced the transfer of ownership of Hunter’s Landing and Quail Ridge at Mallard Pointe, a 74-unit affordable housing development in Arab, AL, to Huntsville-based nonprofit Neighborhood Concepts, Inc.