September 29, 2017

Celebrating the Financial Closing of Willow Creek Apartments in Utah

Willow Creek in Utah

Congratulations to Cordes & Associates, LLC (C&A) on the recent financial closing of Willow Creek Apartments in Grantsville, Utah. Willow Creek provides 62 affordable homes for low-income seniors including homes with a preference for veterans and special needs households. With this transaction, C&A will preserve affordable housing currently serving low-income seniors and will substantially modernize the project with improvements to systems, energy efficiency and accessibility.

Financing

Collegiate Peaks Bank is providing $3.6 million of construction financing. Permanent financing includes $1 million from Olene Walker, and $795,022 in USDA Rural Development 515 funds. Enterprise will provide $6.7 million of equity on behalf of American Express West.  

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