Matters
Advised Mortgage Lender on HUD Refinancing for DC Senior Housing Community
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Advised a mortgage lender on a $37.2 million HUD Section 207/223(f) refinancing of a 150-unit affordable senior housing community in Northwest Washington, D.C. The transaction was supported by a new Mark-to-Market HAP contract extending project affordability for approximately 26 years and required coordination with District of Columbia agencies, the subordination of nine commercial leases and a cell tower lease, and the resubordination of existing restricted covenants.
