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EMERSON HILLS APARTMENT HOMES

FHA New Construction & Substantial Rehab

Endorsed August 26, 2022

FHA #05336397

Deal Details

Location
KANNAPOLIS, North Carolina
Mortgage Amount
$37.5M
Units
198
Program
New Construction & Substantial Rehab
Lender
Merchants Capital Corp.
Fiscal Year
FY2022
LIHTC
Yes
Tax-Exempt
Yes

Current Loan Status

Active
Outstanding Balance
$37.5M
Interest Rate
2.26%
Maturity
February 2065(39 years remaining)
Original Term
40 years
Holder
Merchants Capital Corp.
Servicer
Merchants Capital Corp.

Source: HUD BF90 Active Insured Mortgages · Data as of February 2026

Data Sources

Endorsement data: HUD FHA Multifamily Firm Commitments and Endorsements Database

Active loan data: HUD BF90 Active Insured Mortgages, as of February 2026

hud.gov multifamily data

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