Enterprise Multifamily Opportunity Fund

Sponsor Eligibility For-profit or not-for-profit housing developers

Substantial prior experience and a demonstrated track record of successfully owning and operating multifamily properties.

Minimum of $1 million in liquidity and $5 million in net worth.
Types of Projects Funded Existing multifamily residential rental projects with 100 or more units,

a minimum current occupancy rate of 80%

a projected debt coverage ratio of at least 1.30

Properties will generally be ?B? and ?C? class
Affordability Requirements Rents for at least 75% of their units affordable to households at or less than 80% AMI
Funds Available Per Project Minimum investment of $1 million and maximum investment of $5 million per project

The Sponsor will be responsible for investing a minimum of 10% ? 20% of the total equity
Primary Contact Chris Herrmann
Vice President, Fund Manager
cherrmann@enterprisecommunity.com
Link Click for more information.

Published : June 29, 2016   |   Category : Finance Toolbox