Elmington Lands $24M Construction Loan »
March 01, 2018
Elmington Capital Group has taken $24 million in construction financing for the development of Twelfth & Wedgewood, a 153-unit affordable housing development in Nashville, Tenn.’s Edgewood/12th Avenue South neighborhood. A Berkadia team led by Chad Bedwell, Franklin Brown and Lloyd Griffin closed the financing through HUD’s 221(d)(4) loan insurance program. The two-year construction mortgage has a fixed interest rate of less than four percent and, after it matures, it will be followed with a 40-year term permanent loan.