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.

 

The Verandas of Punta Gorda – Punta Gorda, FL

The Verandas of Punta Gorda exterior
Image Source: The Community Development Trust

Through the Positive Social Purpose Lending Program and in partnership with The Community Development Trust, participation was purchased in a loan providing financing for a 60-unit rental property in Punta Gorda, Florida, restricted to tenants aged 55 and older with household incomes less than 60% of the area median income. Six units are reserved for persons with special needs. Unit amenities include washer/dryer hookups, walk-in closets, balcony or patio and full kitchen appliance package. Common area amenities include a business center, community room, fitness center, and sports court.

Transaction Summary:
 

Property Name: The Verandas of Punta Gorda
Location: 24500 Airport Road, Punta Gorda, FL 33950
Units: 60
Loan Amount: $675,000
Term: 18 years
Purchase Date: August 17, 2017

 

For more information about The Community Development Trust: www.cdt.biz

 

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