Old Cutler Village Phase 2 closes $50M Financing

ByRural Neighborhoods June 14, 2024June 14, 2024

Rural Neighborhoods and Pinnacle announce closing on $32.2M in tax credit equity from Bank of America, $9.1M in conventional mortgage debt from Berkadia and Freddie Mac, and a subordinate $6M Miami-Dade Surtax loan to construct Old Cutler Village Phase 2. The five-story building with 120 workforce units located just east of the Ronald Reagan Turnpike at 10455 Old Cutler Road serves residents who earn no more than 70 percent of local adjusted median income.

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