September 28, 2021 — Boston Capital Finance (BCF) is pleased to announce the closing of another construction taxable loan. This $43 million construction loan will be used to cash collateralize permanent bonds during the 30-month build period of 1530 1st Street SW (a/k/a MDXL Flats). This to-be-built complex will consist of 101-units of affordable housing in a vibrant area of downtown Washington, DC.
“We have closed numerous cash collateralized loans and bonds both on the construction and permanent side of the financing spectrum. Our ability to offer a seasoned underwriting team towards this goal allowed our developer partner to focus on deal- specifics and the larger transaction,” said Sean Curry, Director of Investor Relations and Originations. “This is a fantastic project located in the heart of Washington, DC that involves many financing and equity partners; it was rewarding to be a part of this deal team,” added Bill Fazzano, Director of Asset Management and Underwriting.
Boston Capital Finance
BCF, a wholly owned subsidiary of Boston Capital Corporation, was founded in 1994 and provides construction-to-permanent financing on properties that have or will obtain low-income housing tax credits. BCF managed by Jack Manning and Kevin Costello has closed over $2.6 billion of affordable bonds and loans.
Have an affordable tax-exempt bond or taxable loan that needs to be financed? Please call: