Alonzo Mourning And Housing Trust Group Secure $47M Loan For Senior Affordable Housing Project In Hollywood

The asset involved in the transaction is a development site located at 826 South Dixie Highway in Hollywood. The property is intended for a senior affordable housing project consisting of 96 units and is currently under construction, with completion anticipated next year.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $47,000,000
• Lender: Raymond James, Capital One, & Freddie Mac
• Landlord: Alonzo Mourning; Matthew Rieger - Housing Trust Group
• Target Demographic: Renters age 62+ earning 33%–60% of area median income

Key individuals involved in the deal include Alonzo Mourning, who represents the Housing Trust Group, and Matthew Rieger. The financing package was secured to support the construction of Villa Jordana, which is being developed through Mourning's AM Affordable Housing, featuring tax credit equity syndicated by Raymond James alongside loans from Capital One and Freddie Mac.