A financing package totaling $369M supported long-term affordability across 11 affordable housing properties in Florida, centered on preserving existing communities rather than creating new ones.
The structure included a $221.4M fixed-rate draw and a $147.6M floating-rate draw, combined in an interest-only facility tailored to the portfolio's needs.
The deal covered 24 separate regulatory agreements across the 11 properties, requiring detailed review and a fast, successful path from application to closing.
A buydown on the fixed-rate portion helped maximize proceeds and support the overall financing strategy, helping position these Florida communities for long-term affordability.
In the past year, the housing owner said it preserved >700 affordable homes in Florida, showing continued preservation activity within the state.