NeighborWorks Capital purchased a $360,000 participation in a permanent loan with National Council on Agricultural Life and Labor Research Fund, Inc (NCALL) for Gaudenzia Foundation in May 2020. The first position lender, Citizens Bank, requested that NCALL purchase their loan. Gaudenzia provides housing and services to individuals seeking mental health and drug and alcohol treatment. This loan is part of $5 million in financing for the acquisition and renovation of a vacant office building into a 26-unit transitional housing and addiction rehab center for single men (16 units) and single women with children (10 units).
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.
