NeighborWorks Capital recently closed a $3,241,000 land development construction loan to Comite de Bienestar, the leading nonprofit housing developer in southern Arizona. NC’s loan will fund the development of 94 single-family lots in Bienestar Estates 11, part of Comite’s extensive development of affordable homes in San Luis, AZ. The project will include 36 Self-Help homes, adding to the more than 700 Self-Help homes Comite has developed over the past 20 years. The City of San Luis will also be developing a 19 acre park adjacent to Bienestar 11.
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.
