BRIDGE Housing, a leading affordable housing developer, has successfully raised $71.5 million through a bond offering to finance the construction of an affordable housing community in Portland, Oregon.
The bond offering was managed by KeyBanc Capital Markets and received overwhelming interest from investors, being oversubscribed four times over. The funds raised will go towards the development of HollywoodHUB, a 224-unit building that is set to become one of the largest affordable housing developments in the Portland area.
According to BRIDGE Housing President and CEO Ken Lombard: “We are constantly seeking innovative financing opportunities to drive sustainable growth and further our urgent mission of providing quality affordable housing.” In addition to underwriting the bond issue for BRIDGE Housing, KeyBank Community Development Lending and Investment has also provided nearly $62 million in Low-Income Housing Tax Credit (LIHTC) equity for HollywoodHUB. They have also arranged permanent financing with an additional $18.5 million private placement loan.
In 2024 alone, BRIDGE experienced significant portfolio growth with an increase of 11.5% or 14
