$97 Million in FHA Financing for Midwest Multifamily

Manchester_Slider.jpg



Love Funding recently closed five loans totaling $97 million for five multifamily communities in the Midwest. Love Funding Midwest Regional Director Bruce Gerhart secured the loans through the U.S. Department of Housing and Urban Development’s multifamily loan insurance programs. The programs provide non-recourse, low-rate, long-term financing for the construction, substantial rehabilitation or refinancing of affordable or market-rate apartment projects across the United States. The properties included in the recent transactions are: Manchester, a new market-rate apartment community in the Detroit suburb of Novi that will add 172 units; Encore Townhomes, a new market-rate townhouse community being developed in Utica, Michigan; Danbury Park Manor, an existing, 151-unit Section 8 multifamily community in Superior Township, Michigan; as well as two senior resident Section 8 multifamily communities in Illinois. For more information, contact Bruce Gerhart at (216) 583-0812.

Related Posts

InterPointe Apartment Homes November 26 1126 2013
Gates Manor December 31 1231 2013
Union Arcade May 14 514 2014
Marymount Manor May 27 527 2014
Encore Townhomes July 31 731 2014
Walnut Grove Nursing & Rehab November 13 1113 2014
River's Edge Apartments December 10 1210 2014
Santiam Memorial Hospital January 26 126 2015
Chisholm Creek Apartments May 25 525 2016
Overlook at Prestonwood September 16 916 2016