Affordable Housing Loans

Wespath Benefits and Investments and its subsidiaries, including Wespath Institutional Investments, participate in the Positive Social Purpose Lending Program. The information below provides details about a property recently financed through this program.

 

LARC at Olympia Vista – Olympia, WA

LARC exterior

Through the Positive Social Purpose Lending Program and in partnership with Greystone Servicing Corporation, participation was purchased in a loan providing financing for a 141-unit rental property in Olympia, WA. LARC at Olympia Vista is age-restricted to tenants 62 and older, with household incomes up to 60% of area median income. Property amenities include a resident lounge with a kitchen, game room, library, fitness center, theater room, two exterior spas, resident gardens, gazebo, and 211 parking spaces.

Transaction Summary:
 

Property Name: LARC at Olympia Vista
Location: 3600 Forestbrooke Way SW, Olympia, WA 98502
Units: 141
Loan Amount: $10,400,000
Term: 18 years
Purchase Date: April 28, 2017

 

For more information about Greystone Servicing Corporation: www.greyco.com

 

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