IMPACT Community Capital is proud to finance newly restricted affordable housing for five multifamily properties in San Antonio. Nonprofit community developer Pico Union Housing secured a $43M bridge loan through Rose Community Capital to refinance and secure long-term funding for the Dolores Terravista property portfolio, which consists of 777 units across five properties. IMPACT Community Capital financed this bridge loan through our Impact Mortgage Opportunities Fund, a fund designed to preserve affordable rental housing throughout the country.
The Dolores Terravista property portfolio, which was purchased by Pico Union Housing in 2020, has been operating as naturally occurring affordable housing and will now transition to officially designated affordable housing. The apartment complexes are located in the Westside and Port San Antonio neighborhoods, offering residents one to three-bedroom units, cabanas, swimming pools, fitness centers and onsite laundry services.