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Represented Mortgage Lender in FHA-Insured Loan for Washington State Senior Housing
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Represented a mortgage lender in closing a $27.4 million FHA-insured loan to preserve 164 units of affordable senior housing across three sites in Washington state. Executed under HUD's RAD for PRAC conversion program, the transaction replaced existing HUD-held financing with HUD-insured financing and a 20-year Section 8 contract, and required the subordination of three existing state and county loans alongside the simultaneous funding of a new $1 million city grant.
