Friday, July 26, 2024
Read the Digital Magazines Subscribe to the Newsletter

Mississippi

Ocean Shores Apartments in D’Iberville, Mississippi
Affordable HousingFinanceMississippiNewsSoutheast

Red Oak Capital Holdings Provides $7.7 Million in Financing for Ocean Shores Apartments in D’Iberville, Mississippi

by Channing Hamilton

D’IBERVILLE, MISS. — Red Oak Capital Holdings LLC has provided a $7.7 million loan for Ocean Shores Apartments, a 128-unit affordable housing asset in D’Iberville. Craig Hall of CBRE brought the opportunity to Red Oak Capital. Jeff Joyner, Hermann Wendorff and Jesus Martinez of Red Oak Capital originated the loan. The fixed-rate loan is interest-only and carries a two-year term, with an all-in interest rate of 9.5 percent. The borrower, an entity doing business as Ocean Shores Property Owner LLC, will use the loan to acquire the property. The funds …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingFinanceMississippiNewsSoutheast

BWE Arranges $10.6 Million to Rehabilitate Affordable Community in Starkville, Mississippi

by Channing Hamilton

STARKVILLE, MISS. — BWE has originated a $10.6 million HUD 221(d)(4) loan for the rehabilitation of Brookville Gardens Apartments, a 120-unit affordable housing community in Starkville. All units at the community are reserved for tenants earning up to 60 percent of the area median income and are covered by Section 8 project-based vouchers. Jon Killough of BWE’s Alabama office and John Roberts of BWE’s Dallas office originated the HUD-insured loan. The recapitalization also includes short-term, tax-exempt bonds and new 4 percent Low Income Housing Tax Credits (LIHTC) secured through the …

Continue Reading
0 FacebookTwitterLinkedinEmail
©2023 France Publications, dba France Media Inc.