Member News
Merchants Capital Finances $13M for Historic Affordable Housing in Gary, IN
The New York office of leading multifamily financial services provider Merchants Capital announced it has provided more than $13 million in financing to a joint venture between Gorman & Company and the Gary Housing Authority (GHA) for the rehabilitation of the historic Carolyn Mosby Apartments in Gary, IN.
Jonathan Rose Companies & 5 T Management Acquire Englewood Gardens
Jonathan Rose Companies announced the acquisition of Englewood Gardens, the 11th deal to close into the Rose Affordable Housing Preservation Fund V. Englewood Gardens is a 13-building, 167-unit, family-designated scattered-site Section 8 property located in Chicago’s Englewood neighborhood.
MassHousing Closes on $4.1M in Financing for the Development of 31 Tufts Street in Somerville
MassHousing has closed on a total of $4.1 million in affordable and workforce housing financing to E3 Development LLC, to support the transformation of a public parking lot at 31 Tufts Street in East Somerville into 16 new units of affordable and workforce rental housing.
Dakota Secures Financing for Phase 1 of the Rail Yard in Concord, NH
Dakota Partners announced it has secured all financing and approvals to close on Phase 1 of The Rail Yard, a new affordable housing apartment community that will feature housing for local residents earning between 30 and 60 percent of the Area Median Income.
KeyBank Continues to Expand its Community Development Lending and Investment Team Nationwide
KeyBank Real Estate Capital has appointed three new relationship managers focused on affordable housing to expand community development lending and investment (CDLI) activity in the Southeast and Northwest.
Churchill Stateside Group Closes a record $42.6 Million USDA Rural Development 538 Loan in Flagler Beach, FL
Churchill Stateside Group, LLC (CSG) announced the closing of financing for a new-construction workforce housing project in Flagler Beach, FL. Preserve at Flagler will consist of 240 units catering to family tenancy.
Dwight Capital & Dwight Mortgage Trust Finance $377MM in June 2022
Dwight Capital and its mortgage REIT affiliate, Dwight Mortgage Trust, closed $377MM of loans in the month of June.
Fred D. Scott Joins Red Stone Equity
Red Stone announced the hiring of Fred D. Scott. Scott serves as director of impact investments at Red Stone Equity Partners with primary responsibility for overseeing Red Stone’s efforts in building an investment platform utilizing non- tax-oriented capital focused on underserved markets.
Woda Cooper Companies’ Osborn Commons named Outstanding Affordable Project in U.S. Green Building Council’s 2022 LEED Homes Awards
Woda Cooper Companies, Inc. announced Osborn Commons won Outstanding Affordable Project in the U.S. Green Building Council’s 2022 LEED Homes Awards, announced July 12, 2022.
Hunt Capital Partners Commits $97 Million in Federal and State LIHTC Equity Financing for 200-Unit Hawaii Development
In partnership with Ikaika Ohana and Urban Housing Communities, Hunt Capital Partners announced the closing of $69.71 Million in Federal LIHTC and $26.97 Million in State LIHTC equity financing for the new construction of Kaiāulu o Kūku’ia Apartments.
KeyBank Provides $14.3 Million of Financing for Affordable Housing Property in Nebraska
KeyBank Community Development Lending and Investment (KeyBank) announced that it provided $14.3 Million in construction-to-permanent financing for RMDX, LLC, located in Omaha NE, in order to rehabilitate an old high school building into an affordable housing property in Plattsmouth, NE.
MassHousing Closes on $16.8 Million in Financing for the Adaptive Reuse of the Zelma Lacey House in Charlestown for Senior Citizens
MassHousing has closed on $16.8 Million in affordable housing financing to the nonprofit Affordable Housing and Services Collaborative and Peabody Properties, for the redevelopment of a three-story Charlestown property into 48 units of affordable, independent living housing for senior citizens.