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FACILITIESAPPROVED

austin_affordable_housing_corporation_board_meetin.pdf

Belveron, AAHC to Acquire Griffis SoCo Property

Purchase price $56,000,000; down payment approximately $11,000,000; Fannie Mae loan not to exceed $45,040,000; $1,500,000 set aside for future capital needsAustin Housing AuthorityBELVERON PARTNERSDecember 18, 2025

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Veritone logo
TerraCycle logo
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WithersRavenel logo
Derivita logo
Comcate logo
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Description

AAHC approved a transaction with Belveron Partners to purchase the 296‑unit Griffis SoCo Apartments for $56 million, financed with a Fannie Mae loan up to $45.04 million and significant equity and capital reserves. The project will preserve and deepen affordability as the community is rebranded Bridge at SoCo Apartments.

Contract Details

Contract Amount

Purchase price $56,000,000; down payment approximately $11,000,000; Fannie Mae loan not to exceed $45,040,000; $1,500,000 set aside for future capital needs

Vendor

BELVERON PARTNERS

Agency

Austin Housing Authority, TX

Contract Type

FACILITIES

Document Date

December 18, 2025

Contract Term

Fannie Mae permanent loan with 35-year amortization at approximately 5.25% interest

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austin_affordable_housing_corporation_board_meetin.pdf

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