October 22, 2016
Love Funding’s affordable housing finance experts will be sponsoring the upcoming AHF Live Conference November 15-17, 2016 in Chicago, IL.
Contact us today to schedule a meeting in our private meeting room located across from the exhibit hall on-site.
Bruce P. Gerhart | Regional Director
Holly Bray | Senior Director
David Hirsch | Director
David Opalek | Director
David Strachan | Associate Director
October 17, 2016
Love Funding, one of the nation’s leading providers of FHA multifamily, affordable and healthcare financing, announced the closing of a $14.1 million loan to refinance Huntington Meadows Apartment Homes, a 200-unit affordable apartment community in Austin, Texas.
Love Funding Senior Director Laura Saull-Smith secured the financing through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program for the purchase or refinancing of existing multifamily rental housing. Using the program enabled the ownership group to lock in a low, fixed rate for a 35-year term, fund a replacement reserve and free up more than $1 million to pay for repairs and upgrades, including new flooring, paint, paving and appliances.
October 14, 2016
Columbus-based Director David Opalek will be exhibiting at the Ohio Housing Finance Agency’s Ohio Housing Conference November 8-10, 2016. Stop by our booth in the expo hall to learn more about the many financing options available through HUD’s affordable housing finance programs.
October 13, 2016
Love Funding, one of the nation’s leading providers of FHA multifamily, affordable and healthcare financing, announced the closing of a $5.3 million loan to substantially rehabilitate a 96-unit apartment community in Deerfield Beach, Florida, and preserve its affordable status through a unique FHA program.
Stanley Terrace was built in 1969 as a traditional public housing development, but in 2014, the Deerfield Beach Housing Authority applied for and received acceptance to the U.S. Department of Housing and Urban Development’s Rental Assistance Demonstration (RAD) program.
The RAD program was created by HUD in 2014 to convert public housing units to long-term Section 8 contracts, allowing the units to remain affordable to low-income households. Rather than having to apply annually for operation and management subsidies through the federal public housing budget, the Deerfield Beach Housing Authority was able to convert those funds into Section 8 rental subsidies. This allows them to offer market rents, since the rental assistance makes the units affordable. Consequently, the Authority can operate and renovate the property with debt that is supported by net income, like any other property owner.
October 5, 2016
Director David Opalek will be attending the Kentucky Affordable Housing Conference October 18-19, 2017 in Louisville, KY. Look for Dave on-site to discuss the many financing options available through HUD’s affordable housing finance programs.