Section 538 loans in Florida
USDA's public file lists 36 Section 538 guaranteed loans in Florida, $91,171,409 in all, financing 1,982 apartments. 27 of them also used housing tax credits. The median loan covered 16% of total development cost.
Lenders on these loans
- CHURCHILL MORTGAGE INVESTMENT LLC25
- BONNEVILLE MORTGAGE COMPANY, LLC4
- LUMENT REAL ESTATE CAPITAL, LLC4
- BELLWETHER ENTERPRISE REAL ESTATE2
- ROSE COMMUNITY CAPITAL LLC1
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 |
|---|---|---|---|---|---|
| Pinewood Apartments Green Cove Springs · Rehab/Repair · ROSE COMMUNITY CAPITAL LLC | 2026 | $3,334,603 | 41% | 54 | $1,375 / $1,550 / - |
| Austin Commons Eustis · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2024 | $2,200,000 | 30% | 60 | $855 / $898 / - |
| Amelia Village Vero Beach · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2023 | $1,700,000 | 27% | 50 | $764 / $791 / - |
| Everglades Townhomes Pahokee · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2023 | $3,100,000 | 16% | 60 | - / $1,200 / $1,475 |
| Tranquility At Milton Milton · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2022 | $4,400,000 | 21% | 72 | - / $643 / $733 |
| Preserve At Flagler Beach Flagler Beach · New Construction · CHURCHILL MORTGAGE INVESTMENT LLC | 2022 | $42,600,000 | 67% | 240 | $1,355 / $1,630 / $1,890 |
| Cardinal Corner Arcadia · New Construction · CHURCHILL MORTGAGE INVESTMENT LLC | 2022 | $3,500,000 | 38% | 42 | - / - / $951 |
| Persimmon Commons Sebring · New Construction · CHURCHILL MORTGAGE INVESTMENT LLC | 2021 | $3,993,306 | 41% | 56 | - / $809 / $1,080 |
| Arborside Preserve Phase I Starke · New Construction · CHURCHILL MORTGAGE INVESTMENT LLC | 2021 | $3,000,000 | 36% | 50 | $750 / $875 / - |
| Tranquility At Hope School Marianna · New Construction · CHURCHILL MORTGAGE INVESTMENT LLC | 2020 | $1,520,000 | 24% | 30 | - / - / $714 |
| Orangemont Village Phase I Lake Wales · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2019 | $304,500 | 7% | 34 | $429 / $479 / - |
| Southern Villas Of Perry Apts Perry · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2019 | $570,000 | 15% | 36 | $463 / $661 / - |
| Southern Villas Of Madison Madison · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2019 | $390,000 | 9% | 36 | $483 / $525 / $588 |
| Woodcliff Apartments Clermont · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $380,000 | 10% | 34 | $610 / $760 / - |
| Lakeside Park II Avon Park · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2017 | $1,280,000 | 50% | 63 | $371 / $445 / $576 |
| Forest Ridge Hernando · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $1,500,000 | 9% | 119 | $765 / $966 / - |
| Orange City Flats Orange City · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2016 | $2,500,000 | 24% | 96 | $699 / $885 / - |
| Cantebury Of Hilliard Hilliard · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $600,000 | 20% | 36 | $607 / $700 / - |
| Colony Court Eustis · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $650,000 | 16% | 47 | $540 / $580 / - |
| Greenleaf Village Groveland · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $823,000 | 26% | 37 | $531 / $561 / - |
| Greeenwood Terrace Quincy · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $400,000 | 15% | 37 | $485 / $520 / - |
| Inglewood Meadows St. Cloud · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $450,000 | 10% | 51 | $500 / $550 / - |
| Jefferson Place Monticello · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $400,000 | 13% | 32 | $537 / $576 / - |
| Kissimmee Homes Kissimmee · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $3,081,000 | 35% | 104 | $548 / $548 / - |
| Oakwood Village Century · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $400,000 | 12% | 40 | $567 / $715 / - |
| Orangewood Villas Umatilla · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $500,000 | 13% | 46 | $610 / $710 / - |
| Pine Forest II Starke · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $886,000 | 40% | 30 | $468 / $556 / $627 |
| Pine Ridge Port St.joe · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $289,000 | 7% | 51 | $482 / $568 / $605 |
| Post Oak Fernandina · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $1,166,000 | 30% | 42 | $632 / $682 / - |
| Rosemont Manor Eustis · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $553,000 | 16% | 37 | $505 / $555 / - |
| Village Chase Zephyrhills · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $675,000 | 14% | 48 | $610 / $710 / - |
| Wildwood Terrace Wildwood · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $1,268,000 | 38% | 41 | $523 / $635 / - |
| Woodland Terrace St. Cloud · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2016 | $400,000 | 8% | 51 | $485 / $540 / - |
| Palmetto Villas Palmetto · Rehab/Repair · BONNEVILLE MORTGAGE COMPANY, LLC | 2011 | $1,120,000 | 42% | 48 | - / $650 / $680 |
| North Central Heights Phase II Avon Park · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2010 | $588,000 | 11% | 32 | - / - / $539 |
| North Central Heights Avon Park · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2010 | $650,000 | 9% | 40 | - / - / $501 |