Feature Debt

CDT: A National Resource

INVESTMENTS

Pleasant View Apartments
Fresno, California

Investment Description

Pleasant View Apartments is a 100% Section 8 property located in a community with only limited affordable housing options, especially for extremely low-income households. More than half of the 60 units provide homes for seniors and families of five or more people.

Transaction Highlights

CDT acquired an 80% limited partner interest in Pleasant View in 2012, marking its first equity investment with a nonprofit. Its partner, LINC Housing Corporation, is a Long Beach-based nonprofit builder of affordable housing. CDT partially financed the acquisition with a loan from the Low Income Investment Fund and is working with LINC to complete a Green Refinance Plus loan and a 20-year Mark-up-to-Market HAP contract. Along with a major upgrading of the apartments, the partnership is bringing new social services to residents such as tutoring and health and wellness clinics.