Refinance as a Project Pivots

Share This Post

NeighborWorks Capital closed a $6,307,000 refinance of a previous acquisition and predevelopment loan with East bay Asian Local Development Corporation (EBALDC) in September 2019. Our loan will give EBADLC the funds to increase NC’s existing $4,155,000 acquisition loan that initially closed in 2017 as the project has changed. The West Grand & Brush project in Oakland, California will incorporate some supportive-housing tenant and updating the design. This project will provide deep affordability in one of the most expensive rental markets in the US, with more than half of the apartments restricted to households at 20% and 30% of AMI. 

Subscribe To Our Newsletter

Stay up to date with NeighborWorks Capital

More To Explore

Loan Closer

The Loan Closer oversees the loan closing and funding process for a wide range of commercial real estate loan types, including predevelopment, property acquisition, construction, permanent, and enterprise loans.

Read More »

Resilience and Flexibility in the Face of Unexpected Challenges

Affordable Homes of South Texas, Inc. (AHSTI) started as a grassroots effort by local businesses to improve the condition of homes in the area and provide affordable mortgages to residents. Over the years, AHSTI has grown to include financial education, homebuyer development, new construction, and subdivision development.

Read More »