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CSCDA Issues $48,000,000 in Tax-Exempt Bonds for Carlton Villas Apartments


April 27, 2018

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $48,000,000 in tax-exempt multi-family affordable housing bonds for Carlton Villas Apartments in Santee, California.

About Carlton Villas Apartments:

Carlton Villas Apartments is an acquisition and rehabilitation of 130 multifamily affordable housing apartments by Santee Affordable Communities, LP.  The project sponsor is Logan Capital Advisors.  Carlton Villas Apartments will continue to be 100% affordable and provide one, two and three-bedroom apartments to low-income residents in Santee, California.
 
About the Financing:

CSCDA and Logan Capital Advisors partnered with Citibank, N.A. and Orrick, Herrington & Sutcliffe, LLP to provide tax-exempt multifamily affordable housing bonds for Carlton Villas Apartments.  The project will undergo an extensive interior and exterior renovation ensuring that residents have an updated, safe, and affordable community to call home for years to come.  The financing of Carlton Villas Apartments will maintain the affordability of units for low-income tenants for 55 years.
 
About CSCDA:
 
CSCDA is a joint powers authority created in 1988 and is sponsored by the California State Association of Counties and the League of California Cities.  More than 500 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $60 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.
 
For more information about CSCDA, please visit: www.cscda.org

For more information about Logan Capital Advisors, please visit: www.logancapitaladvisors.com
 
CLICK HERE to download a PDF version of this announcement

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