The Housing Authority of the City of El Paso (HACEP) has secured $250 million in financing for the first phase of the largest Rental Assistance Demonstration (RAD) project in the nation.

The initial phase involves the redevelopment and refinancing of 1,590 units at 13 separate properties across the city.

HACEP’s development partner is Hunt Cos.Hunt’s subsidiaries and affiliates involved in the effort include Hunt Development Group, which will serve as development manager, and Moss Construction, the project's master subcontractor. Hunt Mortgage Group is providing the debt through a Freddie Mac tax-exempt loan direct purchase program, and Hunt Capital Partners secured the LIHTC equity from investors Aetna, MetLife, and USAA. Nixon Peabody represented Hunt Capital Partners. Ballard Spahr was also involved in the deal.

Related Practices

Real Estate
Real Estate Development and Complex Transactions
Real Estate Finance and Capital Markets