Carmen Capital originates the refinance of an affordable project in Pennsylvania. The project had deferred maintenance and had a history of failed REAC scores. The project utilized HUD’s 223(f) program to fund a 35 year, fixed rate loan, fund repairs, and social services and reduce debt service costs.
Carmen Capital originated a refinance for Apartments of a Section 8 property located in Portland Oregon. The property owner reached out to help reduce debt service and fund repairs. After analyzing several options to improve the affordable property the project utilized HUD’s 223(f) program to reduce debt service and assure for the long term viability […]
Background The affordable housing 202 project consists of one-bedroom units, a leasing office, a community room and a laundry The Challenge The project has had some difficulty meeting expenses, primarily due to its large debt service costs and age of the property. Capital improvements were also becoming necessary as the project was built over 15 […]