Permanent Financing to Acquire HUD 202 Project

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NeighborWorks Capital funded a $494,000 permanent loan with Mutual Housing Association of Greater Hartford Incorporated (MHA-GH) in December 2020. This loan will finance the acquisition of the Allen Street property in New Britain, Connecticut. The property has a HAP contract which was renewed for 20 years with the closing and will cover all ten apartments.  Allen Street was developed in 1992 with a HUD section 202 Direct loan for seniors over 62 years of age and disabled persons.  

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