Closings

At Rose Community Capital, we deal with numbers - but we work with people. Over our 20 years of success, we have earned the trust of clients like you by adhering to the highest standards in consistent execution, thorough attention to detail, and unquestioned integrity.

Closings

Completed

Sunny Garden Apartments

Type of Loan: 221(d)(4) Sub Rehab
Loan Amount: $20,334,300

Rose Community Capital is pleased to announce the recent substantial rehab financing for Sunny Garden Apartments (4% LIHTC) located in La Puente, CA. Sunny Garden Apartments is a 95-unit senior affordable project that provides income-restricted units at 50%, 80% and 120% AMI.

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Closings

Under Construction

Sacred Heart Manor

Type of Loan: 241(a) Sub-rehab with LIHTC
Loan Amount: $1,300,000

Rose Community Capital is pleased to announce the closing of a FHA 241(a) sub-rehab loan for Sacred Heart Manor located in Lorraine, Ohio. Sacred Heart Manor is a 51-unit Senior Section 8 property that will be rehabbed using a combination of FHA loan proceeds and 4% LIHTCs. The 241(a) supplemental loan will combine with the existing 223(f) first mortgage to create a blended interest rate at the property. This structure allowed the borrower to preserve the very low interest rate on the first mortgage and add new debt to the project to support the rehab.

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Closings

Completed

Ashtabula Towers (202 Units of HUD Assisted Senior Housing)

Type of Loan: Bridge to FHA
Loan Amount: $6,175,000

Rose Community Capital is pleased to announce a recent Bridge to FHA financing for an affordable housing community known as Ashtabula Towers, in Ashtabula, Ohio. The Owner will rehab the project with an allocation of Low-Income Housing Tax Credits (LIHTCs) made available by the state of Ohio. The perm financing is expected to close in July, 2021.

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Closings

Completed

International House of San Tomasso

Type of Loan: 223(f) 3-YR Rule
Loan Amount: $2,500,000

Rose Community Capital is pleased to announce the recent refinance of International House of San Tomasso. This 40-unit townhouse style project is located in Akron a community situated in the northeastern portion of Ohio; approximately 39 miles south of Lake Erie. The project is a joint venture with a refugee resettlement organization that works to provide affordable and safe housing to recently immigrated families.

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Closings

Completed

Towne Square Apartments

Type of Loan: Bridge to FHA
Loan Amount: $4,500,000

Rose Community Capital is pleased to announce the closing of our first Construction/Bridge Loan: Towne Square Apartments in Tulsa, OK. Towne Square consists of 145 units of PBRA housing available to households that income qualify at 50% of AMI.

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Closings

Completed

Annunciation Terrace

Type of Loan: 223(f) 3-YR Rule
Loan Amount: $860,000

Rose Community Capital is pleased to announce the recent closing for Annunciation Terrace located in Akron, OH. Annunciation Terrace is a 50-unit Senior 4% Bond/LIHTC Project.

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Closings

Completed

Community Arms Apartments (133 Units of HUD Assisted Family Housing)

Type of Loan: 223(f)
Loan Amount: $32,463,000

Rose Community Capital is pleased to announce a recent HUD MAP “heavy” 223(f) financing for an affordable housing community known as Community Arms Apartments, in Pasadena, CA. The Owner built this project for the benefit of the community in 1973 and has continuously operated it for the past 50 years.

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