Freddie Mac’s new Direct Purchase of Tax-Exempt Loans initiative, the goal of which is to keep rental housing affordable for lower-income families and lower costs involved with financing for tax exempt multifamily properties, has closed its first loan. Walker & Dunlop Inc. originated the $14.28 million loan for The Lakewoods, an affordable seniors housing property in Dayton, Ohio, and originated and structured the acquisition rehab loan with a 16-year fixed-rate and 35-year amortization, working closely with Freddie Mac on this first execution.
Related Posts
X-Caliber Closes First Rural PACE-X Transaction
X-Caliber announced it closed a $26.3MM financing with its first Rural PACE-X transaction for the ground-up construction of a new hotel in Silverthorne, CO. When complete, the 111-room hotel will be a Holiday Inn Express brand under IHG Hotel & Resorts.
KeyBank Continues to Expand its Community Development Lending and Investment Team
KeyBank Community Development Lending and Investment (CDLI) expands its team with appointments of fund and equity relationship managers in the West and Midwest regions.
Dominium Announces the Land Acquisition for Sage at Franklin Park in Austin
Dominium announced it has closed a deal to acquire land for the development of Sage at Franklin Park, a new community of affordable apartment homes.
Dominium’s Paul Sween to be Inducted into the Affordable Housing Finance Hall of Fame
Dominium announced that Senior Managing Partner Paul Sween is being inducted into the Affordable Housing Finance Hall of Fame.