Shulman Rogers is pleased to have represented Allen & Rocks, Inc., a local family owned and operated real estate manager of residential and commercial properties, in connection with their financing of a portfolio of four multifamily sites.
The properties, located in Montgomery County, Prince George’s County, Baltimore County, and Baltimore City, encompass 1,169 units that are a part of the Allen & Rocks managed communities committed to providing quality affordable housing. Dwight Capital provided permanent financing insured by the US Department of Housing and Urban Development through the 223(a)7 program. The loans required compliance with the Multifamily Accelerated Processing Guide, the FHA Closing Guide, and HUD Program Obligation requirements.
Leslie Deitch and Dave Kochanski led the Shulman Rogers professional team that worked closely with the Allen & Rocks leadership team, Dwight Capital, and its counsel, Reno and Cavanaugh.
Despite the logistical and technical challenges brought about by the COVID-19 crisis, all four loans successfully closed on March 31, 2020. Shulman Rogers disbursed all funds, issued all title insurance policies, and submitted the recordable documents to the various municipal finance offices on the day of closing.
Congratulations to Allen & Rocks, Dwight Capital, HUD, and their respective counsel on their collaborative efforts.
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