Section 538 loans in Louisiana
USDA's public file lists 20 Section 538 guaranteed loans in Louisiana, $37,586,821 in all, financing 1,232 apartments. 18 of them also used housing tax credits. The median loan covered 14% of total development cost.
Lenders on these loans
- BELLWETHER ENTERPRISE REAL ESTATE10
- CHURCHILL MORTGAGE INVESTMENT LLC5
- BONNEVILLE MORTGAGE COMPANY, LLC3
- MERCHANTS CAPITAL CORP.1
- LUMENT REAL ESTATE 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 |
|---|---|---|---|---|---|
| Country View Pineville · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2026 | $650,000 | 10% | 42 | - / $820 / $955 |
| Glen Oaks Apartments Belle Chasse · New Construction · MERCHANTS CAPITAL CORP. | 2024 | $2,459,000 | 14% | 44 | - / $894 / $1,003 |
| Mabry Place Townhomes Amite · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2023 | $1,748,000 | 14% | 45 | $108 / $261 / $781 |
| Bastrop Senior Living Bastrop · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2023 | $1,070,000 | 13% | 48 | - / $500 / - |
| St. John Village I Covington · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2023 | $2,668,548 | 24% | 40 | - / $606 / $1,051 |
| St. John Village II Covington · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2023 | $2,668,548 | 25% | 40 | - / $606 / $1,051 |
| Peaks Of Sterlington Sterlington · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2022 | $950,000 | 11% | 30 | $417 / $831 / - |
| Heatherwood Apartments Ville Platte · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2021 | $650,000 | 8% | 48 | $593 / - / - |
| Reserve At Mansura Mansura · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2021 | $2,002,000 | 22% | 48 | - / $564 / $759 |
| Renaissance Oaks Houma · Rehab/Repair · BELLWETHER ENTERPRISE REAL ESTATE | 2021 | $5,158,400 | 66% | 122 | - / $720 / $825 |
| Cullen Square Apartments Cullen · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $768,425 | 12% | 50 | $590 / $673 / - |
| Meadows At Arcadia Arcadia · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $875,000 | 11% | 73 | $317 / $506 / - |
| Lumberton Cove Bogalusa · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2018 | $5,000,000 | 33% | 140 | $448 / $609 / $760 |
| Union Pointe Bogalusa · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2018 | $3,431,900 | 27% | 92 | $404 / $551 / $686 |
| Hy Bell Apartments Winnfield · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $1,200,000 | 16% | 60 | $370 / $415 / $496 |
| Twin Lakes Of Leesville Leesvile · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2018 | $3,465,000 | 17% | 194 | $393 / $522 / $647 |
| Elm Street Village Tallulah · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2015 | $702,000 | 11% | 34 | - / - / $505 |
| Willowood Estates Welsh · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2015 | $1,160,000 | 20% | 32 | - / - / $575 |
| Richardson Place II Marksville · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2013 | $400,000 | 10% | 20 | - / - / $486 |
| Richardson Place Marksville · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2013 | $560,000 | 10% | 30 | - / - / $459 |