Music City Place – Richmond, Indiana
Closed – May 2016
Kuhl & Grant LLP served as counsel to the developers and the owner in connection with the acquisition and new construction of Music City Apartments, a 50-unit affordable rental housing project in Richmond, Indiana. Project financing included equity from the syndication of 9% Low-Income Housing Tax Credits (Alliant), conventional construction financing (First Merchants Bank) and subordinate financing (Indiana Housing and Community Development Authority). The project is being co-developed by Flaherty & Collins Development, LLC and Western Wayne Affordable Housing, Inc.
Windsor Renaissance – Cincinnati, Ohio
Closed – May 2016
Kuhl & Grant LLP served as counsel to the developer and the owner in connection with the acquisition and rehabilitation of Windsor Renaissance, a market-rate apartment project in Cincinnati, Ohio. Project financing included equity from the syndication of Federal Historic Rehabilitation Tax Credits (Stearns Bank) and State of Ohio Historic Rehabilitation Tax Credits (Global X), conventional construction, equity bridge and term financing (First Financial Bank) and owner equity. The project is being developed by Core Redevelopment, LLC.
Evansville Housing Authority RAD Conversion – Evansville, Indiana
Closed – May 2016
Kuhl & Grant LLP served as counsel to the developer and the owner in connection with the acquisition and rehabilitation of Kennedy Towers, Buckner Towers, Schnute Towers, White Oak Manor and Caldwell Homes located in Evansville, Indiana, consisting of 559 affordable rental housing units. Project financing included tax-exempt bond financing (City of Evansville), equity from the syndication of 4% Low-Income Housing Tax Credits (Alliant), FHA-insured construction and term financing (P/R Mortgage & Investment Corp.), equity bridge financing (Lake City Bank), seller financing (Evansville Housing Authority) and subordinate financing (Evansville Housing Authority and Indiana Housing and Community Development Authority). The project, which also involved the conversion of public housing units under the Rental Assistance Demonstration (RAD) Program, is being developed by Advantix Development Corporation, an affiliate of the Evansville Housing Authority.
Village of Hope – Gary, Indiana
Closed – April 2016
Kuhl & Grant LLP served as counsel to the developers and the owner in connection with the acquisition and new construction of Village of Hope, a 40-unit permanent supportive rental housing project in Gary, Indiana. Project financing included equity from the syndication of 9% Low-Income Housing Tax Credits (Alliant), conventional construction financing (KeyBank) and subordinate financing (Indiana Housing and Community Development Authority). The project is being co-developed by Sojourner Truth House, Inc. and TWG Development, LLC.
Apperson Way Apartments – Kokomo, Indiana
Closed – January 2016
Kuhl & Grant LLP served as counsel to the developers and the owner in connection with the acquisition and new construction of Apperson Way Apartments, a 69-unit affordable rental housing project in Kokomo, Indiana. Project financing included equity from the syndication of 9% Low-Income Housing Tax Credits (Cinnaire), conventional construction financing (BMO Harris Bank) and subordinate financing (Indiana Housing and Community Development Authority and Federal Home Loan Bank of Indianapolis). The project is being co-developed by Partners In Housing Development Corporation and TWG Development, LLC.
Sands Senior Apartments – Cincinnati, Ohio
Closed – April 2015
Kuhl & Grant served as counsel to the developer and the owner in connection with the acquisition, rehabilitation and new construction of Sands Senior Apartments, a 65-unit affordable senior rental housing property in Cincinnati, Ohio, combining 9% Low-Income Housing Tax Credits and Federal Historic Rehabilitation Tax Credits (Alliant Capital), conventional construction/bridge financing (The Huntington National Bank) and subordinate financing (Ohio Housing Finance Agency and Federal Home Loan Bank Affordable Housing Program). The project is being developed by TWG Development, LLC.
Keller Development, Inc. – Portfolio Refinancings
Closed — 2014 and 2015
Kuhl & Grant LLP served as borrower’s counsel in connection with FHA/HUD-insured refinancings for the following affordable multifamily housing projects developed by Keller Development, Inc. (“KDI”): Cameron Crossing (Huntertown), Jerry Junction (Auburn), Stephanie Villas (Fort Wayne), Tamera Gardens I and II (Fort Wayne) and Tiffany Heights (Fort Wayne). Love Funding Corp served as the lender for each of the FHA/HUD-insured loans. Kuhl & Grant LLP also served as borrower’s counsel in connection with conventional refinancings for the following affordable multifamily housing projects developed by KDI: Savannah Springs (Fort Wayne) and Tamera Senior Villages (Fort Wayne). Capital Fund Investment Corporation served as the lender for both loans.
Switch Flats – Fishers, Indiana
Closed – November 2014
Kuhl & Grant LLP served as counsel to the developer and the owner in connection with the acquisition and construction of Switch Flats, a mixed-use development consisting of 102 market-rate apartments and commercial space in Fishers, Indiana. Financing was provided by Merchants Bank of Indiana and private equity. The project is being developed by TWG Development, LLC.
800 N. Capitol Apartments – Indianapolis, Indiana
Closed – December 2014
Kuhl & Grant LLP served as counsel to the owner in connection with the refinancing of existing debt through an FHA-insured 223(f) loan for 800 N. Capitol Apartments, a 111-unit affordable and market-rate rental housing property in Indianapolis, Indiana. The new financing was secured through P/R Mortgage & Investment Corp.
Colonial Park Apartments – Indianapolis, Indiana
Closed – January 2014
Kuhl & Grant LLP served as borrower’s counsel in connection with the FHA/HUD-insured 223(f) refinancing for Colonial Park Apartments, a multi-family affordable housing community located in Indianapolis, Indiana. P/R Mortgage & Investment Corp. served as the lender for the FHA/HUD-insured loan.