The Doe Fund, represented by United Services Apartments LLC, recently secured a $9.4 million refinance loan from the NYC Department of Housing Preservation and Development. This loan is for two affordable and supportive homeless shelters located in Wakefield, Bronx. The shelters consist of a total of 90 residential units, with the specialty building at 555 Nereid Avenue housing 90 units and another shelter project at 4449 Bronx Boulevard.

Summary of transaction details:

• Property Type: Special Purpose & Development Site
• Transaction Amount: $9,441,074
• Market: Wakefield, Bronx
• Asset Type: Special Purpose & Development Site
• Lender: Emily Lehman - NYC Department of Housing Preservation & Development
• Landlord: John McDonald - Doe Fund

The loan was provided by Emily Lehman of the NYC Department of Housing Preservation and Development. The Doe Fund, represented by United Services Apartments LLC, will use the funds to support and maintain the two shelters, which provide affordable housing options for those experiencing homelessness in Wakefield, Bronx.