Acquisition, Rehab
Peninsula Housing Authority
Public Plaza

Financial and Development Consultant for the repositioning of 3 existing Public Housing properties utilizing the Streamlined Voluntary Conversion (SVC) HUD conversion program as well as a Mark-Up-To-Market of an additional historic property. The 4 properties were syndicated utilizing 4% LIHTC. Scope included acquisition due diligence, financial analysis, value determination, Capital Needs Assessment and inspections, preparation of Owner’s Construction Program, contractor and architect procurement, HUD application and financing plan submittal, HUD relationship lead, lender and investor procurement and selection, lender and investor negotiations, lender and investor due diligence, partnership and debt document edit and review, tax credit application, construction loan structuring, and transaction closing lead.

  • GEOGRAPHY TYPE: Rural
  • CLIENT TYPE: Housing Authority
  • FINANCING TYPE: 4% LIHTC, Refinance
  • PROJECT TYPE: Acquisition, Rehab
  • SUBSIDY TYPE: RAD/Streamlined Conversion, HUD Repositioning
  • NUMBER OF UNITS: 218
  • LENDER: Umpqua
  • LIHTC INVESTOR: RBC
  • EQUITY INVESTMENT: $16,440,787.00
  • FINANCING SOURCE:
    4% LIHTC, Tax-Exempt Construction and Permanent Financing, Seller Financing, Sponsor equity
  • REHAB / NEW CONSTRUCTION VALUE:
    $16,450,000
  • TAX-EXEMPT CONSTRUCTION BOND FINANCING AMOUNT:
    $21,000,000
  • TAX-EXEMPT PERMANENT LOAN AMOUNT:
    $8,075,000
  • DEVELOPMENT / FINANCING BUDGET:
    $41,850,000
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