The Heron apartments

Overview

Deal Type Bridge
Size $20 Million
High Leverage Bridge Loan

Summary

The Heron apartments is a brand new market rate property that the Low Income Housing Institute (LIHI) is in process of acquiring in Tacoma, WA. The property is currently an 82-unit luxury apartment building that LIHI will convert into affordable units as they are vacated. LIHI will be leasing with a target population of 30%/50% AMI and formerly homeless individuals. Thirty units will target low wage workers restricted at 50% AMI and 51 units will target homeless individuals restricted at 30% AMI. The Heron is located close to Port of Tacoma and downtown Tacoma. Units have luxury finishes with multiple indoor amenity spaces. LIHI employs case managers who will be located on-site to provide supportive services, including assistance with employment navigation, income support, public benefits, access to education, and referrals to healthcare and behavioral health. LIHI partners with many local service providers for additional services. KeyBank provided $20 million in financing needed to acquire the property.

Recent Deals

January 2023

a portfolio company of

has been acquired by

Exclusive Sell-Side Advisor

hasa-inc
December 2022

has sold a 143 MW portfolio of distributed C&I solar assets to

 

Exclusive Sell-Side Advisor

longroad-energy-edp
December 2022

Poseidon

$600 Million

Senior Secured Credit Facilities

Coordinating Lead Arranger
Administrative Agent

sunrun-poseidon
December 2022

a portfolio company of

has been acquired by

 

$1 Billion

Sell-Side Advisor

scout-clean-energy
December 2022

amplify energy 

$1 Billion

Senior Secured Credit Facility

Administrative Agent

amplify-energy-corp
December 2022

Woodcreek

$32.16 Million

Acquisition

woodcreek
December 2022

 

Casa Del Mar

$53.24 Million

Refinance

casa-del-mar
November 2022

 

$700 Million

Senior Secured Credit Facilities

Left Lead Arranger
Joint Bookrunner
Administrative Agent

sterling-infosystems-inc
November 2022

Terra 

$1 Billion

Senior Secured Credit Facility

Joint Lead Arranger
Co-Syndication Agent

terra-energy-partners-llc
November 2022

 

$43.3MM

CDLI Loan and LIHTC

river-oaks
November 2022

 

$100 million

Senior Secured Credit Facility

Lead Arranger
Bookrunner
Administrative Agent

seneca-gaming-corporation
November 2022

has divested of a 14.2 MW community solar portfolio in Illinois to

Sell-Side Advisor

cenergy-power

Connect With Us

  • Social Share Icon
  • Social Share Icon
  • Social Share Icon

Find an Expert