The Salvation Army Secures $11M Loan For Upgrade Of Booth Residences In Cincinnati

The Salvation Army has secured $11 million in financing through a 35-year, fixed-rate loan to upgrade the 150-unit Booth Residences in College Hill, Cincinnati, OH. The loan is facilitated by JLL Capital Markets and backed by the Department of Housing and Urban Development.

Summary of transaction details

• Property Type: Student Housing
• Transaction Amount: $11,000,000
• Units: 150
• Lender: Department of Housing & Urban Development
• Landlord: The Salvation Army
• Broker: Anson Snyder - JLL
• Loan Terms: 35-year, fixed-rate loan

Anson Snyder from JLL represented The Salvation Army in securing the loan for the Booth Residences. The property, located at 6000 Townvista Drive, will undergo upgrades with the financing provided.