An LCJ Companies affiliate successfully purchased Country Terrace, a two-phase 127 unit apartment community in Highlands, Texas, in November 2019. Structured financing will be provided through the combination of Housing Tax Credits, a 24-month construction loan, a USDA backed Section 538 permanent loan, and the assumption of multiple existing USDA Section 515 notes. All of these sources will assist in a complete rehabilitation of the property.
LCJ Construction is currently underway with renovations and expects completion by YE 2020.
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