Community Housing Initiative & First Baptist Church Of Highland Park Secures $40.5M Loan For The Highlands In Hyattsville

The asset involved in this transaction is a development site located in Hyattsville, MD, specifically designated for affordable senior housing. The project, known as The Highlands, features a total of 137 units designed to cater to senior residents and is developed by Community Housing Initiative in partnership with First Baptist Church of Highland Park.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $40,521,019
• Loan Type: Construction
• Landlord: Community Housing Initiative & First Baptist Church of Highland Park
• Brokers: PJ McDevitt & Macy Kisilinsky - Walker & Dunlop

Walker & Dunlop facilitated the loan arrangement, securing $40.5 million in debt and equity financing for the project, which aims to provide affordable housing options for senior citizens in the Hyattsville area. This financing represents a significant step in the development of the housing project, highlighting the collaboration between the involved parties.