← Back to FHA deals
Watermark at the Grove
FHA New Construction & Substantial Rehab
Endorsed April 25, 2018
FHA #07135899
Deal Details
- Location
- ELGIN, Illinois
- Mortgage Amount
- $60.5M
- Units
- 282
- Lender
- Merchants Capital Corp.
- Fiscal Year
- FY2018
Current Loan Status
Active- Outstanding Balance
- $55.5M($60.5M original)
- Interest Rate
- 3.31%
- Maturity
- December 2059(34 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
Related Deals
Other FHA deals in ELGIN, IL
ILLINOIS HDARisk Sharing
$12.7MILLINOIS HDARisk Sharing
$2.3MPGIM Real Estate223(a)(7) Refi
$6.7MMerchants Capital Corp.223(a)(7) Refi
$13.9MMerchants Capital Corp.New Const/Rehab
$4.5M