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BWE Provides $4.5M Financing for Villa Rica Senior Housing
BWE has closed a $4.5 million loan to provide long-term financing to Legacy at Walton Trail, a newly constructed affordable housing development specifically targeted for seniors in Villa Rica, GA.
Victor Agusta, Jr., Executive Vice President in BWE’s Raleigh, NC office, originated the Freddie Mac Targeted Affordable Housing loan on behalf of Walton Communities.
Built on the site of obsolete public housing, Legacy at Walton Trail comprises 90 one- and two-bedroom apartments. The homes will be available to adults aged 55 or older who earn between 30 percent and 80 percent of the area median income. A portion of the units will also be subsidized with a long-term Section 8 contract.
The loan for Legacy at Walton Trail includes an 18-year term with a 35-year amortization. The property is also financed with 9-percent Low-Income Housing Tax Credits and a loan from the Housing Authority of Villa Rica.

