Sumner Ridge Apartments (Greensboro, NC)

Centrant Community Capital recently closed a $1,344,900 permanent mortgage to Sumner Ridge Development, LLC for Sumner Ridge Apartments, a new 72-unit property located in Greensboro, NC. Developed by Affordable Housing Management, Inc., a Greensboro-based nonprofit, this property offers a mix of 1, 2 and 3 bedroom units to families earning 60% or less of the area median income.  The approved loan term was for 18 years, with a 30-year amortization, at a fixed rate of 5.75%.