RCP Cos. JV Lands $52M Loan for Alabama OZ Project

  • March 13, 2020
  • Multi-Housing News

RCP Cos. and Spring Bay Property Co. have received $51.9 million in financing for the development of ECLIPSE at CityCentre, a 278-unit multifamily project in Huntsville, Ala. Walker & Dunlop arranged the HUD 221(d)(4) loan consisting of a two-year construction term followed by a 40-year, fixed-rate financing with a declining prepayment schedule for the first 10 years post-construction.

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