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NEW YORK, NY - Centerline Capital Group , a provider of real estate mortgage services for conventional and affordable multifamily housing , announced today it has provided a Fannie Mae DUS loan in the amount of $3.25 million to refinance a multifamily property in Oak Park, Illinois.    Located at 1000 Pleasant Street, Fountainhead Apartments is a four-story building ( including unfinished basement at partially submerged garden level ) with two interior courtyards between the building’s three wings.  The property has five distinct addresses but is known primarily by its 1000 Pleasant Street address . The borrower is Fountain Head Apartments , LLC, an Illinois limited liability company , and Melvyn Kushner, a highly regarded real estate investor .  The property has been very well maintained by Kushner who has been engaged in ownership and management of multifamily complexes for nearly 40 years. “The Property was built in 1922 and has been well cared f...

CLEVELAND, Aug. 21, 2017 /3BL Media/— KeyBank Community Development Lending & Investment (CDLI) has partnered with Riverside Capital to provide a $12. 7 million LIHTC equity investment to help Michaels Development Company rehabilitate Skyline Gardens Apartments , an existing affordable housing development for families in Albany, NY. Skyline Gardens Apartments features 188 LIHTC regulated units serving families that earn up to 60% AMI. Of these units, 131 will be covered by a 20- year Housing Assistance Payments contract allowing families who are eligible for the HAP subsidized units to pay no more than 30 percent of their income toward rent. Skyline Gardens Apartments was originally built in 1973. It was last renovated more than 20 years ago. The project will be financed with a combination of LIHTC equity and tax- exempt bonds provided by the New York State Housing Finance Agency (NYS HFA), a soft loan through the NYS HFA, a House NY Mitchell Lama subsidy loan and existi...