I am excited to share with you a video we recently produced about Hotel Oakland, an affordable property that Prudential Mortgage Capital Co. financed through the DUS® program.
Real estate investor Bill Langelier and partners purchased the landmark Hotel Oakland in 1979 to create an affordable housing option for seniors. In 2011, Hotel Oakland Village was formed to combat isolation among its nearly 400 residents, most of whom are originally from China. In 2015, Langelier refinanced this unique property with Prudential and Fannie Mae.
Watch the video linked below to learn more about the impact living in the Village has had on residents' quality of life. I'm proud that Fannie Mae and our DUS Lenders are involved with projects like these, and I'm thrilled to see how the work we do is making a real difference in the lives of real people -- in every market, every day.
Hope you are all having a great summer.