June 30, 2020 Comments (0) Views: 335 Florida News, South Florida

Fairstead Acquires 101-Unit Senior Housing Community in Boca Raton

Order Reprints...

Real estate firm Fairstead has acquired Gould House, a 101-unit Section 8 housing development for the elderly in Boca Raton. The sales price was not disclosed.

Fairstead plans to embark on a $6 million rehabilitation of the complex, including a full renovation of all apartments including new kitchens, baths, lighting, HVAC, flooring and windows as well as common area improvements. The community is located on the 100-acre Jewish Federation of South Palm Beach County Campus.

The acquisition was financed through the issuance of federal low-income housing tax credits and tax-exempt bonds from the Housing Finance Authority of Palm Beach County. The Freddie Mac Lender/Bond Purchaser in the transaction was Berkadia Commercial Mortgage LLC and the LIHTC Investor was Regions Affordable Housing LLC.

Connect With Fairstead

Subscribe to Connect Daily National

For comments, questions or concerns, please contact David Cohen

Tags: ,

Comments are closed.

Send this to a friend