McBride Capital has arranged the refinance for Block 88 Apartments
McBride Capital is pleased to announce the refinance of Block 88 Apartments in Vancouver, Washington has funded. Dwight Capital, a top three HUD lender, provided the financing for this property via the FHA insured section 223(f) program. The 54-unit multifamily property was built in 1973 and fully renovated 2015-2016.
The client has been a client of McBride Capital for more than a decade and we enjoy a close relationship with their team. The synergy between the client, McBride Capital, and Dwight capital made the HUD process as smooth as possible.
The HUD 223(f) program features a fully amortizing 35-year loan with market-best interest rate and step down prepayment schedule. The mortgage limits for the program are also best-in-class at 80% LTV for a refinance and 1.176x debt service coverage ratio for market rate apartments.
