October 23, 2025
The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $28,500,000 in tax-exempt multifamily affordable housing bonds for Dorado Senior Apartments in Buena Park, California.
About Dorado Senior Apartments:
Dorado Senior Apartments is the acquisition and rehabilitation of 150 multifamily affordable housing apartments by Dorado Senior, LP. The project sponsor is Spira Equity Partners. Dorado Senior Apartments will continue to be 100% affordable and provide one-bedroom and two-bedroom apartments to extremely low-income and low-income senior residents in Riverside, California.
About the Financing:
CSCDA and Spira partnered with Berkadia Commercial Mortgage and Orrick, Herrington & Sutcliffe, LLP to provide the multifamily affordable housing bonds. 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 Dorado Senior Apartments will maintain the affordability of units for low-income senior 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 (CSAC) and the League of California Cities (Cal Cities). More than 530 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance eligible projects.
CSCDA has issued more than $75 billion in tax-exempt bonds to help local governments build community infrastructure, create Community Facilities Districts (CFDs), funding for more than 25,000 affordable housing units in the last 8 years, provided over 7,700 housing units now restricted for Low- and Middle-Income residents, provided Commercial and Residential Clean Energy funding, create jobs, make access available to quality healthcare and education, and more.
CSCDA’s Open PACE program is the largest Property Assessed Clean Energy Program (PACE) in the nation with 14 Commercial PACE and 3 Residential PACE firms. CSCDA has issued 40% of the total number of Commercial PACE projects nationwide.
For more information about CSCDA please visit: www.cscda.org
For more information about Spira please visit: https://spiraequitypartners.com/
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