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ATAX Multifamily Tax-Exempt Bond Direct Purchase Developers Loans

Real estate development loans for construction and financing of LIHTC affordable, student housing and senior housing properties through the direct purchase of tax-exempt and taxable bonds. 

Multifamly Developers Loan Amount

Minimum $8 million

Tax-Exempt Bond Apartment Developers Loan

About ATAX
America First Multifamily Investors, L.P. (NASDAQ: ATAX) provides real estate developers with a cost-effective solution for construction and permanent financing of affordable, student and senior housing properties through the direct purchase of tax-exempt and taxable bonds.

Markets

  • Nationwide
  • For Profit and Non-Profit sponsors

Loan Amount
Target size of at least $8 million

Loan Purpose
New Construction or acquisition/rehabilitation of affordable housing projects that can be financed in conjunction with LIHTC, 80/20 or 501(c)3 bonds

Amortization
Up to 40 years

Prepayments
15-year lock out

Recourse
Non-Recourse at conversion to permanent financing. Standard carve-out provisions required

Eligible Properties
Tax-exempt bond financing for the following:

  • Multifamily housing – LIHTC or Non-Profit
  • Seniors housing with limited resident services
  • IL/AL/MC projects
  • Workforce and Inclusionary Zoning projects
  • Portfolio Acquisitions and Assets for future repositioning
  • Properties with tax abatements
  • Properties with space for certain commercial (non-residential) use
  • Properties with tenant-based Section 8 vouchers

Interest Rates

  • Variable rate or fixed. Fixed rate generally 325 bps (3.25%) over 10 year LIBOR swap rate
  • Sponsor has the ability to lock in a fixed rate once engaged. Additional premiums may apply
  • Typically up to 18 year fixed rate
  • Interest only available up to 3 years

LTV Ratios and Amortizing DSCR

New Construction

Acquisition/Rehab

For Profit (LIHTC)

Non-Profit

For Profit (LIHTC)

Non-Profit

Minimum DSCR

1.15x

1.05x

1.15x

1.05x

Maximum LTV

up to 90%

up to 100%

up to 90%

up to 100%

 

For current mortgage rates for LIHTC rehabilitation and new construction financing apartment loans, contact our multifamily lenders in Dallas.

Call For a Quote:

(214) 679-9673

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