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DEACONESS TOWER

FHA New Construction & Substantial Rehab

Endorsed October 26, 2023

FHA #04435743

Deal Details

Location: SOUTHGATE, Michigan
Mortgage Amount: $14.6M
Units: 150
Program: New Construction & Substantial Rehab
Lender: Grandbridge Real Estate Capital LLC
Fiscal Year: FY2024
LIHTC: Yes

Current Loan Status

Active

Outstanding Balance: $14.5M($14.6M original)
Interest Rate: 6.20%
Maturity: March 2065(39 years remaining)
Original Term: 40 years
Holder: Grandbridge Real Estate Capital LLC
Servicer: Grandbridge Real Estate Capital LLC

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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