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Walker & Dunlop Arranges LIHTC Funds for Indianapolis Seniors Community
Walker & Dunlop has structured a $17.29-million loan for Oasis at 56th, a 124-unit affordable assisted living facility under construction in Indianapolis. It’s among the few such facilities in the country to be financed with a Low-Income Housing Tax Credit (LIHTC) from HUD.
The firm’s Jeff Lawrence and Matt Baptiste led the team in structuring the financing for the developer, Integral Community Development, a repeat client with extensive HUD experience and owner of additional senior housing facilities in the local area, including Oasis at 30th (pictured).
“Working with our partners at HUD, we were able to tailor the 232 program to optimize the use of LIHTCs, along with public and private sources of capital to assist in the development of the project that we believe will be a model for affordable assisted living,” said Lawrence. The new facility is scheduled for completion in early 2019.
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