2014 Affordable Housing Preservation Transactions

In 2014, FCC and its affiliates obtained over $17,000,000 for the refinancing of 4 properties containing 616 affordable housing units.  Proceeds from the refinancings were used for capital improvements, strengthening replacement reserves and providing cash distributions to investors.  Some of the transaction also made use of HUD’s enhanced vouchers and Mark-up-to-Market program thereby assuring long term rental subsidies for tenants.