Section 538 loans in Arizona
USDA's public file lists 39 Section 538 guaranteed loans in Arizona, $58,526,657 in all, financing 2,448 apartments. 29 of them also used housing tax credits. The median loan covered 11% of total development cost.
Lenders on these loans
- BONNEVILLE MORTGAGE COMPANY, LLC18
- USDA RURAL DEVELOPMENT6
- LUMENT REAL ESTATE CAPITAL, LLC4
- ALLIED HOME MORTGAGE CAPITAL CORPORATION4
- PNC BANK, N.A.4
- BELLWETHER ENTERPRISE REAL ESTATE3
Lender names as USDA records them. Open Country is not affiliated with any lender listed.
| Project | Closed | Loan | Loan to cost | Units | 1BR / 2BR / 3BR rent |
|---|---|---|---|---|---|
| Las Terrazas Apartments Nogales · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $1,000,000 | 7% | 104 | $845 / $945 / $1,055 |
| Las Terrazas Apartments Nogales · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2022 | $4,975,000 | 34% | 104 | $845 / $945 / $1,055 |
| Kingman Heights/amy Neal Kingman · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2018 | $2,825,000 | 31% | 57 | $935 / - / - |
| Florence Sunrise Apartments Florence · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2017 | $440,000 | 5% | 58 | $555 / $635 / $685 |
| Bowman Senior Residences Nogales · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2017 | $218,300 | 2% | 48 | $511 / - / - |
| Casa De Esperanza Douglas · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2016 | $1,625,000 | 19% | 50 | - / $486 / $568 |
| Sun Ray Family Apartments Douglas · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2015 | $750,000 | 7% | 57 | - / $608 / $703 |
| Whispering Sands Page · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2012 | $332,500 | 4% | 48 | $508 / $610 / $704 |
| Madera Peak Vista Apartments Globe · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2011 | $830,000 | 9% | 60 | $459 / $568 / - |
| Sungate Villa II Apartments Prescott Valley · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2011 | $1,245,000 | 12% | 54 | $334 / $417 / - |
| View Point Senior Community Prescott Valley · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2010 | $800,000 | 8% | 50 | $365 / $445 / - |
| Whispering Sands Page · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2010 | $1,057,271 | 13% | 48 | $508 / $610 / $704 |
| Center Ridge Apartments Payson · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2010 | $608,000 | 6% | 48 | - / $414 / $555 |
| Itom A'e Apartments Guadalupe · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2009 | $900,000 | 9% | 65 | $468 / $555 / - |
| Park Meadows Apartments Taylor · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2009 | $185,000 | 3% | 42 | - / $370 / $427 |
| Park Meadows Apartments Taylor · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2009 | $650,000 | 12% | 42 | - / $370 / $427 |
| Mountain Pointe Apartments II Nogales · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2009 | $497,314 | 6% | 60 | $316 / $376 / $490 |
| Timberstone Apartments II Show Low · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2009 | $983,000 | 12% | 56 | - / $459 / $459 |
| Cobre Village Apartments Globe · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $840,000 | 9% | 64 | - / $350 / $405 |
| Valley View III Prescott Valley · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2008 | $1,500,000 | 14% | 72 | $402 / $472 / $537 |
| Timberstone Apartments Show Low · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $1,065,000 | 11% | 80 | - / $457 / $524 |
| Kayenta V Kayenta · New Construction · ALLIED HOME MORTGAGE CAPITAL CORPORATION | 2008 | $1,171,165 | 14% | 56 | - / - / $450 |
| Kayenta III Kayenta · New Construction · ALLIED HOME MORTGAGE CAPITAL CORPORATION | 2008 | $2,093,909 | 16% | 100 | - / - / $450 |
| Kayenta VI Kayenta · New Construction · ALLIED HOME MORTGAGE CAPITAL CORPORATION | 2008 | $718,242 | 24% | 21 | - / - / $515 |
| Kayenta VII Kayenta · New Construction · ALLIED HOME MORTGAGE CAPITAL CORPORATION | 2008 | $515,350 | 15% | 25 | - / - / $453 |
| Sungate Villa/prescott Valley Prescott Valley · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2008 | $975,000 | 11% | 64 | $382 / $453 / - |
| Valley View II Apartments Prescott Valley · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2008 | $940,000 | 11% | 72 | $338 / $457 / $517 |
| Nuestra Senora Guadalupe · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2007 | $1,500,000 | 14% | 72 | $519 / $610 / $685 |
| Katherine Heights Townhomes II Bullhead City · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2007 | $1,807,000 | 16% | 54 | - / - / $601 |
| Fairway Manor Snowflake · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $668,930 | 10% | 60 | - / $366 / $420 |
| Katherine Heights Townhomes Bulhead City · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $1,954,991 | 20% | 54 | - / - / $577 |
| Katherine Heights Villas Bullhead City · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $1,581,330 | 27% | 56 | - / $516 / - |
| Pinaleno Foothills Apartments Safford · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $860,420 | 13% | 60 | - / $386 / $460 |
| Orgullo Del Sol Apartments San Luis · New Construction · USDA RURAL DEVELOPMENT | 2004 | $15,414,817 | 93% | 212 | $462 / $586 / $789 |
| Kayenta VII Kayenta · New Construction · USDA RURAL DEVELOPMENT | 2003 | $147,177 | 4% | 25 | - / - / $453 |
| Kayenta VI Kayenta · New Construction · USDA RURAL DEVELOPMENT | 2003 | $205,146 | 7% | 21 | - / - / $515 |
| Kayenta V Kayenta · New Construction · USDA RURAL DEVELOPMENT | 2002 | $334,552 | 4% | 56 | - / - / $450 |
| Kayenta III Kayenta · New Construction · USDA RURAL DEVELOPMENT | 2001 | $598,193 | 4% | 100 | - / - / $450 |
| Rio Puerco Acres Fort Defiance · New Construction · USDA RURAL DEVELOPMENT | 2000 | $3,714,049 | 25% | 73 | - / - / $500 |