Section 538 loans in Arkansas
USDA's public file lists 11 Section 538 guaranteed loans in Arkansas, $13,181,000 in all, financing 480 apartments. 9 of them also used housing tax credits. The median loan covered 26% of total development cost.
Lenders on these loans
- BELLWETHER ENTERPRISE REAL ESTATE3
- BONNEVILLE MORTGAGE COMPANY, LLC2
- LUMENT REAL ESTATE CAPITAL, LLC2
- PNC BANK, N.A.2
- CENTENIAL MORTGAGE1
- FIRST SECURITY BANK1
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 |
|---|---|---|---|---|---|
| The South Grove Searcy · New Construction · BONNEVILLE MORTGAGE COMPANY, LLC | 2024 | $400,000 | 4% | 60 | $438 / $328 / $395 |
| Stuttgart Apartments II Stuttgart · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2019 | $2,051,000 | 26% | 56 | $625 / $675 / $745 |
| Stuttgart Apartments I Stuttgart · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2019 | $2,051,000 | 26% | 56 | $625 / $675 / $745 |
| Westview Arms Apartments Dumas · New Construction · LIHTC · CENTENIAL MORTGAGE | 2016 | $1,500,000 | 26% | 60 | $440 / $550 / $604 |
| Preston Apartments Magnolia · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2016 | $751,000 | 13% | 40 | $575 / - / - |
| Park Side Patio Homes Of Lowel Lowell · New Construction · LUMENT REAL ESTATE CAPITAL, LLC | 2015 | $1,518,000 | 69% | 28 | - / - / $600 |
| Greenbrier Gardens Phase II Greenbrier · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2013 | $750,000 | 24% | 30 | $575 / $575 / - |
| Mountainview Estates Gassville · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2007 | $1,200,000 | 31% | 32 | - / - / $543 |
| Birch Tree Acres Berryville · New Construction · LIHTC · PNC BANK, N.A. | 2007 | $1,200,000 | 27% | 38 | - / - / $504 |
| Gassville Gardens Gassville · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $660,000 | 25% | 40 | $387 / $467 / - |
| Robinson Apartments Lowell · New Construction · LIHTC · FIRST SECURITY BANK | 2004 | $1,100,000 | 41% | 40 | $327 / $431 / - |