DreamKey Partners closed on a $2,840,000 construction loan for Vantage Pointe Townhomes in Charlotte, NC. The Charlotte-Mecklenburg area has seen tremendous growth and a dramatic increase in home prices, and to address these challenges, DreamKey Partners has taken on several homeownership opportunities to help families that are being priced out of the market. The construction loan from NeighborWorks Capital will provide the financing DreamKey Partners needs to build 12 affordable homes for families at or below 80% of AMI.
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.