The Palms of Deerfield Apartments

The Deerfield Beach Housing Authority (“DBHA”) is pursuing a RAD conversion of its 100 unit elderly designated property.  S & H is providing financial advisory/development services as well as coordinating the HUD RAD approvals and private placement financing of the project.  The project will result in $5.5 million in renovations.  S & H has secured $6.25 million in 4% tax credit equity and a $4 million SAIL loan from Florida Housing Finance Corporation for the project. This deal is scheduled to close in early 2017 and will be the second public housing RAD conversion in Florida utilizing tax exempt bonds and 4% tax credits.