Pinnacle Park Apartments

September 03, 2015

Pinnacle Park Apartments

Knoxville, TN | $17,000,000
HUD Section 221(d)(4) program

RMC provided $17,000,000 in financing under the HUD Section 221(d)(4) program for the refinance and substantial rehabilitation of Pinnacle Park Apartments (formerly Arbor Place Apartments). The multifamily community consists of 200 units of low- and moderate-income housing. The complex debt structure included the use of 4% Low Income Housing Tax Credits (LIHTCs), short-term tax-exempt bonds, and multiple tranche financing.