Panoramic I, III and IV and Walkerton Apartments – Liberty, Centerville and Walkerton, Indiana
Closed - September 2016
Kuhl & Grant LLP served as counsel to the developer and the owner in connection with the acquisition and rehabilitation of the Panoramic I, Panoramic III, Panoramic IV and Walkerton Apartments located in Liberty, Centerville and Walkerton, Indiana, consisting of 118 affordable rental housing units. Project financing included tax-exempt bond financing (Indiana Housing and Community Development Authority), equity from the syndication of 4% Low-Income Housing Tax Credits (Cinnaire), FHA-insured construction and term financing (P/R Mortgage & Investment Corp.), equity bridge financing (Merchants Bank of Indiana), the assumption of existing USDA Rural Development financing and subordinate financing (Indiana Housing and Community Development Authority). The project is being developed by West York, LLC.