Golden Estates- $362,264 acquisition loan

Share This Post

NeighborWorks Capital purchased a $362,264 participation in an acquisition loan with HOPE Enterprise Corporation (HEC) in September. This loan will assist Triangle Development with their project at Golden Estates with the costs for rehabilitation of the thirty-two affordable apartments in Mississippi. Total cost of the project is $1,180,000 and will allow for the following updates: apartment amenities with energy efficient appliances, upgraded finishes, upgraded common and community spaces, reconstructed outside circulatory features including parking lots and sidewalks, and other maintenance features that will extend the useful life of the complex.

HEC is an active lender providing a wide range of consumer, mortgage, and commercial financial products and services to people and organizations through Mississippi, Arkansas, Louisiana, and Tennessee. Triangle Development is experienced in recapitalizing affordable housing projects in the region and has a track record of successfully obtaining permanent financing through the LIHTC and HUD 223(f) programs.

Subscribe To Our Newsletter

Stay up to date with NeighborWorks Capital

More To Explore

Visiting Providence and Boston

Our team had the opportunity to spend time with five members of NeighborWorks America serving communities in Boston and Providence. On this trip, we visited Codman Square Neighborhood Development Corporation, Nuestra Comunidad Development Corporation, Madison Park Development Corporation, ONE Neighborhood Builders, and Cambridge Neighborhood Apartment Housing Services. Each of these organizations is doing transformational work to create opportunities for people to live in affordable homes, improve their lives, and strengthen their communities. 

Read More »

NeighborWorks Capital Deploys $22 Million to Fund Permanent Multifamily Loans in Partnership with Charles Schwab Bank

On August 30, 2022, NeighborWorks Capital received its largest investment to date, a $25 million facility from Charles Schwab Bank to fund permanent multifamily loans. One year later, NeighborWorks Capital is pleased to report that 90% of the facility has been utilized and $22 million of long-term, fixed-rate permanent financing has been deployed to members of the NeighborWorks network.

Read More »

Senior Accountant

The Senior Accountant will report to the Controller and will directly assist the Finance Team with a wide range of tasks and projects related to financial reporting, budgeting and forecasting.

Read More »