NeighborWorks Capital closed a $410,000 permanent loan with CDC of Brownsville in May 2019. Our loan will give CDC of Brownsville the funds to acquire and preserve Vista de Luna Apartments in Southern Texas. Vista de Luna is a 12-apartment property that will serve low income families at 50-80% AMI, providing much needed affordable rental housing in a deeply impoverished community. Built in 1982, these single bed and bathroom apartments feature central air conditioning, stove, refrigerator, dishwasher, tile/carpet floors, and balcony.
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.