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Senior Housing

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737 50th Street Northeast

Updated Dec 4, 2024

District Of Columbia Housing Finance Agency Allocates $51.3M For H.R. Crawford Gardens Senior Housing
FINANCEDSenior Housing

District Of Columbia Housing Finance Agency Allocates $51.3M For H.R. Crawford Gardens Senior Housing

737 50th Street Northeast

$51,300,000

Building Size

Asset Type

Senior Housing

Closing

Sep 15, 2023

About this deal

AI

H.R. Crawford Gardens, an affordable senior housing project located at 737 50th Street Northeast in Washington, D.C., has received a loan of $51.3 million from the District of Columbia Housing Finance Agency (DCHFA). The project is owned by Sasha-Gaye Angus, representing Manna Corporation and Mutreja Developer.

Summary of Transaction Details

The District of Columbia Housing Finance Agency (DCHFA) has allocated $51.3 million to support H.R. Crawford Gardens, an affordable senior housing project in Washington, D.C. This loan provides financial backing for the development and maintenance of the senior housing complex, ensuring its affordability and accessibility to the residents of the community.

Players

District of Columbia Housing Finance Agency
District of Columbia Housing Finance AgencyLender

Brooklyn Senior Housing Market Snapshot

Boundary boundary · Senior Housing · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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