NAHT and Mercy Housing California Close Financing for Columbia Park Apartments
Columbus, OH. Tuesday, September 13, 2016. NAHT, in partnership with Mercy Housing California is pleased to announce the closing of $11.1 million dollars in Low-Income Housing Tax Credit (LIHTC) equity financing for the development of Columbia Park Apartments. Columbia Park apartments is an affordable multifamily housing building which consists of one-, two- and three-bedroom apartments. Each apartment contains energy efficient appliances and is wired for free internet access.
NAHT secured the LIHTC investment under the NHT 32 Tax Credit Fund, L.P. As the LIHTC syndicator, NAHT will work with Mercy Housing California and the LIHTC investor to ensure the project meets development requirements and is completed on time. The deal was closed on Friday July 22, 2016.
“NAHT is proud to partner with Mercy Housing California in the recapitalization and continued preservation of Columbia Park, representing 50 affordable family units in San Francisco, CA,” stated Paul M. Cummings, a Senior Acquisitions Officer at NAHT. “Supporting Mercy Housing California’s mission to create stable, vibrant and healthy communities is a privilege and part of NAHT’s core principles.”
Mercy Housing is a national nonprofit organization, and one of the nation’s largest affordable housing organizations. Mercy Housing California is the largest regional division of Mercy Housing, Inc. with offices in Los Angeles, San Francisco and Sacramento, Mercy Housing California affordable low-income housing programs and Resident Services. Mercy housing participates in the development, preservation, management and financing of affordable, program-enriched housing across the country.
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