D.C. Housing Authority & POAH Secures $98.5M Construction Loan For Hillsdale Flats In Southeast D.C

The transaction involves a development site located in Washington, DC, specifically for the construction of the 90-unit Hillsdale Flats as part of the Barry Farm-Hillsdale redevelopment. This project is being financed through a comprehensive funding package that combines various financial instruments.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $98,500,000
• Lender: J.P. Morgan Chase & Fannie Mae
• Landlord: D.C. Housing Finance Agency & Preservation of Affordable Housing
• Loan Type: Construction

The financing arrangement sees D.C. Housing Authority and Preservation of Affordable Housing securing $98.5 million, which encompasses tax-exempt bonds, LIHTC equity, and loans from the two lenders, J.P. Morgan Chase and Fannie Mae, dedicated to advancing this significant redevelopment initiative in Southeast D.C.