The HUD 223(f) Refinance of Harvard Street Apartments in Bandon, OR has Funded.
McBride Capital has successfully arranged the HUD 223(f) cash out refinance of Harvard Street Apartments, a 66-unit fully affordable multifamily property in Bandon, OR. The HUD loan replaces a bridge loan that McBride Capital arranged in September 2017 to acquire the property. This borrower is always a pleasure to work with and Harvard Street marks the fourth loan that we've successfully closed with their group. Their sophistication, in addition to the lender, allowed us to successfully close on this complex, high leverage, bridge-to-HUD execution in a small, tertiary, coastal market.
Harvard Street Apartments provides tenants with a vast amount of open green space, playgrounds for children, a large clubhouse for gatherings, and easy access to downtown Bandon as well as Bandon Dunes Golf Resort.
The loan was originated by Ken McBride.