BWE, a nationally recognized commercial and multifamily mortgage banking firm, has successfully secured permanent financing for three workforce housing communities in St. Louis, Missouri. These properties include One Loop Apartments, Broadway Park Apartments and Park Vue Flats.
Spearheaded by Dan Baker, Senior Vice President at BWE’s St. Louis office, the company was able to secure loans for these properties on behalf of Affinity Capital LLC and a local housing developer in St. Louis. The loans were obtained through Fannie Mae’s Sponsor Dedicated Workforce Housing program which allowed the borrowers to receive lower interest rates on their fixed-rate loans with five-year terms and full-term interest-only payments.
The portfolio consists of 247 units spread across 23 residential buildings with Broadway Park featuring 104 apartments; One Loop boasting 59 apartments; and Park Vue Flats offering 84 apartments.
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