Section 538 loans in Kentucky
USDA's public file lists 47 Section 538 guaranteed loans in Kentucky, $39,613,667 in all, financing 1,789 apartments. 45 of them also used housing tax credits. The median loan covered 18% of total development cost.
Lenders on these loans
- GREYSTONE SERVICING COMPANY LLC11
- LUMENT REAL ESTATE CAPITAL, LLC11
- CHURCHILL MORTGAGE INVESTMENT LLC9
- BONNEVILLE MORTGAGE COMPANY, LLC9
- BELLWETHER ENTERPRISE REAL ESTATE4
- PNC BANK, N.A.2
- MERCHANTS CAPITAL CORP.1
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 |
|---|---|---|---|---|---|
| Albany Manor Albany · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2024 | $1,885,000 | 30% | 41 | - / $837 / $966 |
| Cardinal Meadow Harrodsburg · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2024 | $978,000 | 23% | 36 | $725 / $800 / - |
| Cypress Hills Apartments Harrodsburg · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2024 | $1,550,000 | 29% | 40 | $725 / $800 / $1,025 |
| Jessamine Village Wilmore · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2024 | $2,946,443 | 61% | 46 | $825 / $900 / $1,100 |
| Spencer Village Taylorsville · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2024 | $1,544,000 | 37% | 26 | $815 / $910 / $1,050 |
| Vernon Manor Clay City · Rehab/Repair · CHURCHILL MORTGAGE INVESTMENT LLC | 2024 | $1,227,000 | 38% | 32 | $693 / - / - |
| War Memorial Senior Apartments Scottsville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $275,031 | 4% | 36 | $490 / $595 / - |
| War Memorial Senior Apartments Scottsville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2021 | $450,000 | 8% | 36 | $465 / $550 / - |
| Bardstown Green Apartments Bardstown · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $477,000 | 19% | 24 | $555 / $595 / - |
| Columbia Greens Apartments Columbia · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $354,000 | 12% | 24 | $485 / $560 / - |
| Cumberland Court Apartments Monticello · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $127,000 | 5% | 24 | $465 / $510 / $567 |
| Elkton Arms Apartments Elkton · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $235,000 | 10% | 24 | $485 / $550 / $685 |
| Glades Village II Apartments Berea · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $261,000 | 11% | 24 | $545 / $595 / - |
| Pembroke Senior Apartments Pembroke · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $175,000 | 11% | 16 | $550 / $635 / - |
| Rosedale Court Apartments Dawson Springs · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $755,000 | 22% | 40 | $612 / $688 / $755 |
| Shelby Place Apartments Shelbyville · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $572,000 | 24% | 28 | $555 / - / - |
| Shelby House Apartments Shelbyville · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $863,000 | 34% | 24 | $568 / $583 / - |
| Silver Creek I Apartments Berea · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $565,000 | 15% | 36 | $520 / $540 / $570 |
| Wells Hill Apartments West Liberty · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2021 | $141,000 | 5% | 32 | $470 / $515 / - |
| Hillview Terrace Apartments Greensburg · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2020 | $1,075,000 | 11% | 73 | $565 / $634 / $759 |
| Logan's Trace Apartments Stanford · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2020 | $922,000 | 11% | 65 | $475 / $515 / $615 |
| Brooksville Court Apartments Brooksville · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2020 | $600,000 | 8% | 48 | $573 / $690 / $877 |
| Liberty Manor Apartments Liberty · Rehab/Repair · LIHTC · MERCHANTS CAPITAL CORP. | 2019 | $1,500,000 | 20% | 50 | $597 / $677 / $780 |
| Bedford Village Apartments Bedford · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2018 | $790,000 | 15% | 40 | $585 / $657 / $804 |
| Locust Ridge Apartments Dry Ridge · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2018 | $2,200,000 | 26% | 72 | $570 / $655 / $854 |
| Mt. Washington Terrace Mount Washington · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2018 | $650,000 | 11% | 40 | $480 / $582 / - |
| Towne Creek Crossing Walton · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2018 | $1,500,000 | 17% | 44 | $605 / $725 / $840 |
| Echo Hill Apartments Vanceburg · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2017 | $1,600,000 | 23% | 40 | $655 / $722 / $896 |
| Baron Hills Apartments Russell Springs · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2017 | $452,000 | 17% | 24 | $465 / $622 / - |
| Bardwell Manor Bardwell · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2016 | $389,000 | 22% | 20 | $490 / - / - |
| Mayfield Manor Mayfield · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2016 | $430,000 | 18% | 24 | $475 / - / - |
| Clinton Hills Apartments Clinton · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2016 | $840,000 | 42% | 24 | $495 / $570 / $630 |
| Garland Manor Bardwell · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2016 | $800,000 | 37% | 24 | $500 / $570 / $620 |
| Windhaven III Apartments Mayfield · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2016 | $305,000 | 29% | 12 | $429 / $509 / - |
| Brayton Apartments Lawrwenceburg · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $225,000 | 7% | 40 | $393 / $408 / - |
| Calvert City Apartments Calvert City · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2015 | $550,000 | 15% | 60 | $362 / $452 / - |
| Castle Village Apartments Brodhead · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2013 | $1,314,000 | 15% | 70 | $473 / $560 / $748 |
| Eminence Village Apartments Eminence · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2013 | $1,500,000 | 20% | 54 | $603 / $703 / $781 |
| Hopewell Apartments Paris · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2013 | $445,000 | 8% | 30 | - / $545 / $635 |
| Carrollton Village Apartments Carrollton · Rehab/Repair · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2012 | $1,300,000 | 19% | 80 | $452 / $528 / $645 |
| Bracken Creek Apartments Augusta · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2011 | $1,095,193 | 25% | 40 | $566 / $733 / $981 |
| Mason Greene Monticello · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2010 | $255,000 | 3% | 68 | $342 / $430 / $542 |
| Preston's Crossing Prestonsburg · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2010 | $225,000 | 6% | 24 | - / $387 / $443 |
| Oak Place Apartments I Corbin · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2007 | $375,000 | 11% | 46 | $355 / $437 / $493 |
| Elk River Apartments Georgetown · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2007 | $1,696,000 | 37% | 40 | - / $509 / - |
| Paint Landing Paintsville · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $600,000 | 22% | 24 | $378 / $428 / $468 |
| Paint Lick Station Paintsville · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $600,000 | 22% | 24 | - / $378 / $428 |