AFR Closes on a $36.2 Million Loan for Affordable Housing

Absolut Financial Resources (AFR) is pleased to announce the closing of a $36.25 Million construction-to-permanent tax-exempt bond loan. AFR arranged the permanent debt through affordable bonds and low-income housing tax credits for 27077 SFH LLC based out of Miami. Madison Point is a 263-unit affordable apartment complex to be constructed in the southern region of Miami, Florida. The Property will be family-orientated and consist of four multi-story elevator serviced buildings as well as 14,000 square feet of retail space.

“Miami is in need of more affordable housing and this parcel of land is located in an excellent area for this product,” said Jose Guillen, President of Absolut Financial Resources.

One of the buildings will have frontage on US1 with retail space on the first floor. Amenities include pool, laundry facilities, computer room, playground and gym. The affordable apartment complex is walking distance to public transportation, Walmart, convenience stores, an elementary school and a public park. The development is expected to be completed 18 months from the closing.

Absolut Financial Resources
9830 SW 77TH AVENUE, SUITE 130
MIAMI, FLORIDA 33156
absolutfinancial.com
(305) 274-7467
Amanda Guillen

Absolut Financial Resources
Founded in 1989, AFR arranges and structures mortgages and equity for commercial real estate, offering non-recourse loans with attractive terms and competitive interest rates. AFR provides our clients with products and services that enable them to achieve their investment goals. Each principal seeking financing and equity will obtain creative strategies and alternatives from one of AFR’s seasoned professionals.

This release was published on openPR.