Nevada HAND recently closed a $540,000 permanent loan with NeighborWorks Capital to refinance existing debt for Stewart Pines, a 72-unit affordable apartment development for low-income seniors in Las Vegas, Nevada. Funds will be used to take out the existing debt and pay for immediate repairs to the Subject Property.
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.