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
Related Fannie Mae Loan Options
FANNIE GREEN
FANNIE HYBRID ARM
