Thomas F. Taft, Sr., Stuart H. LeGrand and Southeast Apartment Group, LLC were the project sponsors behind Wakefield Commons Apartments, a new 80-unit multifamily development located in Raleigh, NC. This property provides a mix of two- and three-bedroom units to residents earning no more than 60% of the area median income. Subordinate financing through the NCHFA and the City of Raleigh allowed the sponsors to target rents for some units to residents earning as low as 30% of AMI. Centrant’s $2,572,327 permanent mortage to Wakefield Commons, LLC was structured as an 18-year term with a 30-year amortization, at a fixed rate of 5.75%
Please note: Centrant Community Capital is a financing entity, and is not involved in the on-going leasing or management of the property or properties highlighted in this post. For unit availability and leasing information, prospective residents are advised to contact the leasing office directly.