NAHT and National Church Residences Close Financing for Wapakoneta Village
Columbus, OH. Wednesday, September 21, 2016. NAHT, in partnership with National Church Residences is pleased to announce the closing of $3.3 million dollars in Low-Income Housing Tax Credit (LIHTC) equity financing for the rehabilitation of Wapakoneta Village. Wapakoneta Village is an affordable housing community for seniors and people with special needs. Located in Wapakoneta, Ohio – Wapakoneta Village offers 40 affordable rental units.
NAHT secured the LIHTC investment under the Cornerstone/NAHT Enhanced Preservation Fund 2014-1 Limited Partnership. As the LIHTC syndicator, NAHT will work with National Church Residences and the LIHTC investor to ensure the project is rehabilitated and completed on time. The deal was closed on Friday September 9, 2016.
Marcus Vivona, Director of Acquisitions, of NAHT had this to say about the closing, “We are excited to be collaborating with National Church Residences and the LIHTC investor to complete the rehabilitation of Wapakoneta Village. Once completed, this property will be able to continue to provide quality affordable senior housing to the Wapakoneta community. We are grateful to work with National Church Residences in their affordable housing mission.”
National Church Residences is the nation’s largest not-for-profit provider of affordable senior housing and services. With over 340 communities in 28 states and Puerto Rico, National Church Residences also provides health care in Ohio and Florida, including the operation of Senior Living Communities and permanent supportive housing for the formerly homeless and disabled.