High-quality, attainable rental homes for St. Louis seniors
155 attainable units
$12.8 million
Unfunded Forward
97% of units
attainable at 50% AMI
Budgeted $117K
in improvements per unit
A great deal from a DUS® Lender to a nonprofit borrower
Our commitment to creating and preserving affordable rental housing extends to all types of borrowers and renters across the U.S. With one transaction, DUS® Lender BWE structured this $12.8 million deal so that a nonprofit borrower could expand their portfolio to offer rental units for renters aged 62+ in St. Louis.
A rate lock with a real impact
This deal combined multiple financing products for the best possible outcome for lender, borrower, and renter. This deal generated rental units within reach for more senior renters. The borrower budgeted $117,000 to rehabilitate each unit, and Forward Commitment financing provided a rate lock-in prior to rehabilitation construction, protecting the borrower from interest rate volatility.
Creative financing that creates community
Investing in rental rehabs can provide homes that make a difference in the lives of renters. This deal was great business for BWE, a solid investment for the local nonprofit, and a meaningful preservation of 155 units for St. Louis seniors who can rent and live comfortably within their budget. Another wide-reaching success for the Multifamily DUS model.
