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Diamonds in the Rough: How RD 515 Portfolio Re-syndications Generate Wealth for Owners and Preserve Affordability for Residents
Affordable multifamily housing in rural America is largely funded by the USDA RD 515 program, comprised of thousands of smaller properties all across the country in less-populated areas. These housing units are vital to providing safe, decent and comfortable places to live for America’s rural workers. But with an average age of between 30 and 50 years, these assets are often in desperate need of renovation. By utilizing a combination of 4% LIHTCs, tax exempt bonds, and the RD 538 multifamily rental program, owners and acquirers of aging RD 515 properties can group these assets into larger portfolios to accomplish high-quality renovations that will preserve affordability and viability for years to come. Join key members of Churchill Stateside Group’s lending team to find out how we’re underwriting portfolios all over the country, and hear from a developer/owner about their recent experience working with us to do so.
Webinar Agenda
- Overview of USDA 515 / 538 Portfolio Structure
- Key Timelines: 515 Transfer, 538 Application, LIHTC & Bonds
- How the 538 layers with the 515 in a Portfolio Re-syndication
- Highlights of 515/538 Portfolios Completed with Churchill Lending & Consulting
- Equity Bridge Loans Needed for Additional Construction Sources
- How to Structure 4% LIHTC and Tax Exempt Bonds for the Portfolio
- Special Guest – Winterwood, Inc. – RD 515/538 developer/owner
- Live Q&A
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Join our panelists for a discussion and Q&A about how they've created winning strategies for clients.
