McBride Capital Arranges the Refinance of Valley Pines Apartments in Medford, OR
Location: Medford, OR
Property Type: Multifamily (120 Units)
Loan Program: HUD 223(f)
Loan Amount: $6,882,200
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The refinance of Valley Pines Apartments in Medford, OR has been arranged by McBride Capital via the HUD 223(f) program.
The HUD 223(f) program is ideal for fully affordable properties such as Valley Pines. The program provides 80% loan to market value with cash out, 1.15x DSCR, 35-year fully amortizing term, reduced MIP and low interest rates.
More information on HUD's programs can be found here.
The borrower on this transaction was great to work with and they have done a wonderful job renovating the property to prepare for the HUD loan. The group, which specializes in affordable housing, has preserved the fully affordable nature of this property, while providing tenants with a much improved community to live in.
The loan was originated by Ken McBride.