Pioneers Woods & Rosedale Apartments: Preserving affordability with modern amenities in Central Pennsylvania

DUS model supports long-term value for borrowers, lenders, and residents

Fannie Mae partnered with DUS® Lender Northmarq to help their borrower secure a competitive interest rate on a cash-out refinance, unlocking capital to reinvest in two 160-unit Pennsylvania properties — in Hershey and in Lancaster, Pennsylvania. As a DUS Lender, Northmarq was able to tailor the credit structure and close quickly, allowing their borrower to deliver planned upgrades while maintaining rent affordability.

Contact your deal team

A cash-out refinancing enabled property upgrades

DUS® Lender Northmarq structured a cash-out refinance to support the borrower’s growth strategy to build long-term rental communities.  The refinancing helped fund upgrades across both properties to continue offering affordable housing for workforce residents.

Refinancing to Maintain Rent Stability

At Pioneer Woods and Rosedale Apartments, 90% of rental units are priced at 80% of Area Median Income (AMI) maintaining naturally occurring affordability at market rate.  This refinancing supports the borrower’s goal of offering affordable housing across Central Pennsylvania.