NeighborWorks Capital recently closed a $6,269,100 permanent loan to Community Resources and Housing Development Corp (CRHDC) for the purchase of Kiva Apartments, 64 units in Alamosa, CO. Kiva was one of five properties (two multifamily, 2 self-storage, and 19 acres of vacant land) in a portfolio acquisition, expanding their presence in Alamosa and the San Luis Valley. NC’s ten-year loan includes an innovative debt service reserve, with underwriting (and loan size) at expected rents after a gradual increase, rather than at lower current rents. This was NC’s first loan to CRHDC after more than 10 years.
Industry Leaders Come Together to Ensure Greenhouse Gas Reduction Funds (GGRF) Reach Underinvested Communities
NeighborWorks Capital Green Advisory Board: Industry Leaders Come Together to Ensure Greenhouse Gas Reduction Funds (GGRF) Reach Underinvested Communities
