texas_department_of_housing_and_community_affairs.pdf
Arcadian Fannie Mae Loan Finances Costa Mariposa
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Description
The board authorized subordination of its existing TCAP loan to a new $19 million Fannie Mae-backed loan from Arcadian for the Costa Mariposa apartments. The financing features a 10-year term with 30-year amortization and five years of interest-only payments to support property improvements and capital restructuring.
Contract Details
Contract Amount
$19,000,000
Vendor
ARCADIAN
Agency
Texas Department of Housing & Community Affairs, TX
Contract Type
FINANCIAL_SERVICES
Document Date
September 4, 2025
Contract Term
10-year term, 30-year amortization, first 5 years interest-only
Renewal Date
2034-02-01
Renewal Info
Senior loan has a fixed 10-year term; TCAP loan maturity has been realigned to come due six months after this senior financing, with no mention of extension options.
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