Bellwether Enterprise Closes Two Loans for Affordable Housing Properties in Alabama, Georgia

by John Nelson

TUSCALOOSA, ALA. AND THOMASVILLE, GA. — Bellwether Enterprise Real Estate Capital LLC has recently closed two loans totaling $8.4 million for Section 8 apartment communities in Tuscaloosa and Thomasville. The affordable housing properties include the 124-unit Creekwood Village Apartments in Tuscaloosa and the 88-unit Wood Valley Apartments in Thomasville. Creekwood Village, which uses two units for the Boys and Girls Club and a daycare center, was built in 1972 and renovated in 2002 with Low Income Housing Tax Credits (LIHTC). Wood Valley was built in 1974 and renovated in 2003 with LIHTC. Bellwether Enterprise arranged both loans, which featured seven-year terms, through Freddie Mac on behalf of the borrower, LEDIC Realty Co. LLC.

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