Deal Insider: Manchester Oaks Apartments


Originator: Holly Bray

Challenge: The major impetus for this Section 223(f) refinancing was to extract sufficient savings to cover a $1.3 million roof replacement, a borrower-elected upgrade. The closing of the loan was scheduled during the winter season, which would have postponed the repairs for a number of months.

Solution: Bray added the roof replacement project to the Project Capital Needs Assessment (PCNA) during processing, allowing the client to perform the repairs in the fall season when the weather was conducive. The replacement costs were recouped when the refinancing closed in February.

Deal Insider provides insights into Love Funding’s recent loan closings, with an emphasis on how the originator helped the client address a specific challenge.

Related Posts

NuVista Care January 11 111 2012
RiNo.jpg RiNo Center Apartments January 11 111 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Viera Manor ALF September 15 915 2012
Happy Valentine's Day! February 14 214 2013
NIB_HUDUpdates.png News in Brief: HUD Updates June 12 612 2018
extra mile We Go the Extra Mile June 14 614 2018