Crux Commercial Partners secured $19.05 million to help fund the purchase and renovation of a large LIHTC multifamily asset in the Pacific Northwest. Terms included a 5-year fixed rate, interest-only period, and no reserves, even with a first-time affordable housing borrower. https://cruxcre.com/multifamily-real-estate/
Crux Commercial Partners City: Tacoma Address: 732 Broadway STE 301 Website: https://cruxcre.com/ Phone: +1 253 219 3005Tag Cloud
Crux Commercial Partners Helps Finance LIHTC
Apartment Buy with $19M Loan in the PNW
When a longtime client sought to acquire a deed-
restricted multifamily property in the Pacific Northwest,
they engaged Crux Commercial Partners for
assistance with LIHTC financing
The asset, a 200+ unit property
with 20% vacancy, posed
challenges due to Low-Income
Housing Tax Credit restrictions
usually discouraging lenders
Crux's innovative approach not only overcame these hurdles but also saved the client
approximately $700,000 upfront
They successfully structured $19.05 million in
acquisition financing for the property governed by
LIHTC restrictions enabling the rehabilitation of the
asset to meet AMI thresholds
The resulting fixed-rate, flexible structure supported
both acquisition and long-term repositioning
objectives
With this tailored financing, the client could enhance operations without facing the usual liquidity
constraints of deed-restricted acquisitions
Find out more at cruxcre.com
Apartment Buy with $19M Loan in the PNW
When a longtime client sought to acquire a deed-
restricted multifamily property in the Pacific Northwest,
they engaged Crux Commercial Partners for
assistance with LIHTC financing
The asset, a 200+ unit property
with 20% vacancy, posed
challenges due to Low-Income
Housing Tax Credit restrictions
usually discouraging lenders
Crux's innovative approach not only overcame these hurdles but also saved the client
approximately $700,000 upfront
They successfully structured $19.05 million in
acquisition financing for the property governed by
LIHTC restrictions enabling the rehabilitation of the
asset to meet AMI thresholds
The resulting fixed-rate, flexible structure supported
both acquisition and long-term repositioning
objectives
With this tailored financing, the client could enhance operations without facing the usual liquidity
constraints of deed-restricted acquisitions
Find out more at cruxcre.com