Love Funding Secures $1.93 Million Loan for Greenbriar Apartments in Boise, Idaho


Washington, DC – Nov. 17, 2011 – Love Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of a $1.93 million loan refinancing for Greenbriar Apartments, a 47-unit Section 8 apartment community in Boise, Idaho.
 
Love Funding Fist Vice President and Loan Originator Chad Ricks of the Dallas office secured the loan through the U.S. Department of Housing and Urban Development’s 223(f) loan program. Utilizing the program enabled the property’s owner to lock in a low fixed interest rate for a 35-year term, generating significant debt service savings.

Greenbriar Apartments, which is based in the Southeast Boise neighborhood, consists of 10 two-story and partial three-story buildings. All of the rental units are covered under a Section 8 HAP contract. The property received a superior rating from the Idaho Housing Finance Authority during an August 2009 management review.
 
For more information, contact Chad Ricks.

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