DreamKey Partners closed on a $2,750,000 bridge loan for Johnston Oehler Seniors, an affordable senior housing community to be built in Charlotte, NC. The loan from NeighborWorks Capital will bridge grant funding from Mecklenburg County during the construction period. Johnston Oehler Seniors will provide 140 affordable rental units for seniors in Charlotte, NC between 30-80% AMI. NeighborWorks Capital also provided $500,000 of predevelopment financing to support early-stage costs of the project.
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.