PROJECT OVERVIEW
- Originally constructed under the 221(d)(4) program in 2007 as a substantial rehab project. In 2011, Centennial mortgage Refinanced the project under the 223(a)(7) program for $47,687,600.
- The purpose of the loan was to reduce the interest rate from 5.75% to 4.45%, which then provided better cash flow for the project. This deal allowed HUD to reduce their risk while allowing the borrower to generate more income.
- PE lofts is 314 Units.
- Project Name PE Lofts
- Project Location Refinance
- Loan Amount Matthew Kane
- Originator Los Angeles, CA
- Year Built 2007
