Updated Dec 4, 2024
Walker & Dunlop Secures $29.6M LIHTC Equity For Canyon Creek East
$29,600,000
Building Size
—
Asset Type
Development Site
Closing
Jun 26, 2024
About this deal
AI
MRE Capital secured a $29.6 million loan for Canyon Creek East, a new affordable housing project in Lenexa, Kansas. The loan was facilitated by Jennifer Erixon from Walker & Dunlop Inc., utilizing federal Low-Income Housing Tax Credit (LIHTC) equity.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $29,600,000
- Market: Lenexa, KS
- Landlord: MRE Capital
- Broker: Jennifer Erixon - Walker & Dunlop
The involvement of Walker & Dunlop Inc. in securing the $29.6 million federal Low-Income Housing Tax Credit (LIHTC) equity highlights their commitment to supporting affordable housing projects, with Jennifer Erixon playing a crucial role in facilitating the loan for Canyon Creek East.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93