Loan Type: Permanent Mortgage – Forward Commitment
Loan Amount: $2,260,000
- !8-year balloon note
- 35-year amortization
Closed: December 2021
Zebulon Green is a new, 72-unit multifamily community located in Zebulon, NC. Developed by United Developers, Inc. of Fayetteville, NC, the property is comprised of six two-story apartment buildings and a community building/office, offering a mix of one-, two- and three-bedroom units to families earning 30-60% of area median income.
Additional funding sources included federal Low Income Housing Tax Credits and Workforce Housing Loan Program funds issued by the North Carolina Housing Finance Agency, with additional Wake County subordinated HOME fund debt.