Rivermont Retirement Community
Norman, Oklahoma
$13,600,000
Refinance

MMA Financial recently closed a $13,600,000 immediate delivery participated with Fannie Mae through their Seniors Housing product line. This community which consists of Rivermont at the Trails, 129 units of independent living residences and The Gardens of Rivermont, 56 units of assisted living residences located on an 8.13 acre site in Norman, Oklahoma. Both properties encourage residents to be as independent as possible and offer a wide array of amenities, activities and transportation for the senior residents. The property has maintained better than 97% occupancy for the past two years.

MMA Financial recently committed both construction and permanent financing on this proposed independent seniors affordable housing complex. MMA Financial also provided $4,015,000 in tax credit equity syndication proceeds. The property consists of 20 one-bedroom units and 40 two-bedroom/two-bath units. MMA was able to generate significant economies of scale with the sponsor between the processing of this transaction simultaneously with two others, and was able to commit and fund on construction, permanent, and tax credit equity investment in under sixty (60) days.

MMA Financial recently funded a $5,176,690 construction loan and arranged a forward rate lock commitment of $2,710,000 from Community Development Trust together with a commitment from MMA for $6,299,000 in tax credit equity syndication proceeds. The property will feature 119 units targeting independent living seniors age 55 and over. 80% of the property’s units will be set aside to residents earning at or below 60% of the area median income, including project-based rental assistance and public housing units. This transaction evidences MMA’s “one stop shop” where construction, permanent and equity financing can be combined to maximize efficiencies and profits to the client.

MMA Financial closed construction and permanent financing on this proposed 56-unit affordable multifamily community in Fort Smith, Arkansas. MMA Financial also invested $3,780,000 in tax credit equity syndication proceeds. The property is located on 6.95 acres and will consist of nine, one-bedroom units, 20 two-bedroom/two-bath units and 27 three-bedroom/two-bath units. 80% of the units will be set aside for families earning at or below 60% of the area median income. This transaction evidences MMA’s “one stop shop” where construction, permanent and equity financing can be combined to maximize efficiencies and profits to the client.