Richmond, VA, Dec. 18, 2018 (GLOBE NEWSWIRE) — Berkadia Commercial Mortgage, Jefferies and Riverside Capital announced the financing of Fairwood Apartments, a garden-style multifamily property in Carmichael, California (Sacramento County). The deal consists of a $12.6 million Tax Exempt Fannie Mae Mortgage Backed (M-TEBS) bond transaction with four percent low-income housing tax credits (LIHTC), which funded approximately $6.4 million in equity. As part of the deal, the project will have a new 20-year HUD rental assistance contract, meaning that none of the 86 households will have to pay more than 30 percent of their income towards rent. The closing of […]