Select Transactions—Newark, NJ

Grace West Apartments

  • LIHTC acquisition and bond financing from New Jersey Housing and Mortgage Finance Agency, with an FHA/HUD co-first lien, of a long-term Section 8, 100% affordable housing complex in Newark's central business district.
  • $92,000,000 owner's insurance with non-imputation coverage.
  • Lender's coverages in the amounts of $45,000,000 and $63,000,000.
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Project Profile

LIHTC acquisition and bond financing from New Jersey Housing and Mortgage Finance Agency, with an FHA/HUD co-first lien, of a long-term Section 8, 100% affordable housing complex in Newark's central business district.