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.

 

Quartz Ridge – Auburn, CA

Quartz Ridge exterior
Image Source: Greystone Servicing Corporation

Through the Positive Social Purpose Lending Program and in partnership with Greystone Servicing Corporation, participation was purchased in a loan providing financing for a 64-unit rental property in Auburn, CA restricted to tenants with household incomes up to 60% of area median income. Amenities at the project include a pool, playground, and a clubhouse with an activity room, computer lab, laundry room, kitchen, and leasing offices. Unit amenities include full kitchen appliances and balconies or patios. Energy efficiency features include energy efficient lighting, low-flow devices, and Energy Star appliances. Quartz Ridge provides social services to tenants including adult education, health and wellness, and skill building classes.

Transaction Summary:
 

Property Name: Quartz Ridge
Location: 200 Silver Bend Way, Auburn, CA 95603
Units: 64
Loan Amount: $2,000,000
Term: 30 years
Purchase Date: May 11, 2017

 

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

 

Visit our website for Participants, Conferences and Other Plan Sponsors: wespath.org

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