Henderson Court

Overview

Size $36.7 Million
Equity Bridge Loan, LIHTC Equity, and Permanent Loan

Summary

KeyBank Community Development Lending & Investment provided capital for the rehabilitation of Henderson Court, a 150-unit affordable housing project in Bloomington, Indiana. 150 units will serve families and individuals earning no more than 60% of the Area Median Income (AMI). Supportive services will be offered to residents and will include case management, on-site health clinics, food pantry access, and youth and adult resident programming. We want to thank Gene B. Glick Co. for their sponsorship and shared mission to preserve much-needed affordable housing in Indiana.

The financing includes a $4.7 million equity bridge loan arranged by Kelly Frank, $9.5 million in LIHTC equity arranged by Ryan Olman, and a $22 million permanent loan arranged by Key’s Commercial Mortgage Group.

Banking products and services are offered by KeyBank National Association. All credit products are subject to collateral and/or credit approval, terms, conditions, and availability and subject to change.

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