Parc Central: HUD 223(f) refinance
McBride Capital recently closed the refinance of Parc Central in Vacouver, WA. The 151-unit multifamily property was refinanced utilizing the HUD 223(f) loan platform. The loan features a rate that is locked below 4.0% for a 35-year fully amortizing term. The loan also returned a significant amount of equity back to our client.
Parc Central was built in 1972 and extensively renovated between 2015 and 2017, allowing it to qualify for Green Energy Certification and a reduced MIP of 0.25%. The client has been a client of McBride Capital for more than a decade and we enjoy a close relationship with their team, making the HUD process significantly easier.
The loan was originated by Ken McBride and Sabrina Snow.