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The loan allows Bella Property to acquire and renovate Pinebrook Apartments.
The sponsor paid off debt and benefitted from $3.5 million in recouped equity.
The strategic sale included an assumption of an existing FHA loan.
The loans facilitate acquisitions for The Lynd Company, a frequent client of Lument.
Parc Vista is a 212-unit, garden-style apartment community built in 2021.
The loan funds the acquisition and over $3 million in capital improvements.
Takes a significant step towards becoming the foremost provider of affordable housing solutions.
Lument Closes $22.8 Million Bond Placement for Construction of Seniors Housing Community in South Carolina
The 142(d) program allows construction to be financed with tax-exempt bonds.
The sponsor is Lynd Company, a repeat client of Lument.
Saddlehorn Vista is a 192-unit multifamily community in Fort Worth, Texas.
Lument Provides $50.4 Million in Freddie Mac Acquisition Financing for a Multifamily Community in Indiana
The sponsor is acquiring Gramercy Apartments, a 436-unit multifamily community.
Lument Provides $28.8 Million Freddie Mac Unfunded Forward Loan for Affordable Multifamily Development in Phoenix
The sponsor is first-time Lument client, Trinity Housing Development.