PROJECT OVERVIEW
- The Moderne is a 213 unit, modern high rise in Milwaukee, Wisconsin constructed under the 221(d)(4) program in 2013.
- In 2016, Centennial assisted the Borrower in refinancing the project under the 223(a)(7) program to substantially lower the interest rate of the project. In addition, the 223(a7) allowed the project to re-access the MIP based on HUD’s new Green initiative program (this was HUD’s first approved deal under this initiative). The new loan totaled $42,357,800 and was able to reduce their annual rate by 1.74%.
- Project Name The Moderne
- Project Location Milwaukee, WI
- Loan Amount $42,357,800
- Originator Matthew Kane
- Year Built 2013
