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Walker & Dunlop Affordable Housing recently arranged a $10.6 million Freddie Mac Unfunded Forward TEL and $5.3M in LIHTC Equity for Spirit Lake Manor, a 81-unit affordable housing community serving low-income seniors & disabled in Duluth, Minnesota.
The integrated team arranged the debt, led by Rob Rotach and Chad Blessed and LIHTC equity financing, led by Jennifer Erixon. This demonstrates the breadth of the firm's affordable housing platform and its ability to deliver comprehensive capital solutions.
This financing will enable Steele Properties to renovate Spirit Lake Manor, preserving quality affordable housing for residents while ensuring the property remains an important community asset for years to come.