THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED YEARS ENDED DECEMBER 31, 2019 and 2018
NOTE 11 - MORTGAGE NOTES PAYABLE Mortgage notes payable and accrued interest consist of the following:
2019 Mortgage
2019 Accrued
2018 Mortgage
2018 Accrued
Maturity
Interest
Affiliated Entity
Amount
Interest
Amount
Interest
Date 2022
Rate
Description or Mortgagee
250 Pepper Tree Manor LP
$
3,507,392
$
179,842
$
3,582,004
$
-
5.000% PNC Bank
Texas Dept. of Housing and Community Affairs
250 Pepper Tree Manor LP 1255 NPO Owner, LLC 1300 NPO Owner, LLC
3,103,000
- - -
3,231,400
- - -
2044 2030 2030
0.000%
48,840,000 34,382,000
- -
3.950% Citibank NA 3.950% Citibank NA
Bellwether Enterprise Mortgage Investment LLC
A.C.T. Affordable Housing (LaSalle) A.C.T. Affordable Housing (LaSalle)
889,051 874,893
7,794 1,470
902,857 882,277
7,794 1,470
2028 2037
4.870%
2.000% City of Charlotte
District of Columbia Housing Finance Agency District of Columbia Department of Housing and Community Development Enterprise Community Loan Fund Inc.
Alabama Ave. Afford. Housing (Roundtree)
4,690,000
54,404
4,770,000
55,332
2048
2.320%
Alabama Ave. Afford. Housing (Roundtree)
5,000,000 4,720,000
- - -
5,000,000 4,800,000
267,546
2051 2019
1.000%
Alexander House Owner, LLC Alexander House Owner, LLC Anacostia Gardens Investor, LLC Anacostia Gardens Investor, LLC Bayview Preservation Partners, LP
- -
Varies
980,000
900,000
At Conversion
6.000% Enterprise Community Loan Fund Inc.
Eagle Bank
6,400,000 2,400,000 15,037,820 13,151,439
28,599 12,000 80,979
6,400,000 2,400,000 15,153,408
32,099 12,000 80,979
2019
variable
At Recapitalization
6.000% Local Initiatives Support Corporation 6.250% Connecticut Housing Finance Authority
2054 2049
Benning Heights Investor
-
-
-
2.250% Citibank
District of Columbia Department of Housing and Community Development
Benning Heights Investor Berry Manor Owner, LP
5,012,387 4,515,000
- -
- -
- -
2049
0.000%
At Recapitalization
4.500% Low Income Investment Fund
Maryland Community Development Administration
Bolton North, LP
24,370,000 4,456,706 8,808,359 15,493,771
188,025 16,453 32,518 49,632 36,485
24,795,000
189,141
2034 2054 2054 2023 2023
variable
Center City Apt Urban Renewal, LLC
- -
- -
4.430% ORIX Real Estate capital LLC 4.430% ORIX Real Estate capital LLC
Irvine Turner Apts Urban Renewal, LLC
C/HP Cove, Inc. (Clipper) C/HP Cove, Inc. (Clipper) Cleme Manor Holdings, LLC
15,897,775
50,926 37,038
3.720% PNC Bank 5.160% PNC Bank 3.250% PNC Bank
7,778,539
8,335,561
17,966,242 59,679,449
-
17,860,815 61,299,506
8,081
At Conversion
Columbia Heights Village Apartments LP
180,895
185,806
2022
3.520% Enterprise Mortgage Investments, LLC
Bellwether Enterprise Mortgage Investments, LLC
Columbia Heights Village Apartments LP
28,499,839
114,609
28,959,808
116,459
2022
4.670%
Falls Church-Winter Hill Falls Church-Winter Hill
-
-
-
-
Refinanced
3.368% Oak Grove Commercial Mortgage, LLC 4.780% Jones Lang LaSalle Multifamily LLC
7,353,044
28,366
7,471,087
28,822
2028
Bank of America, N.A./Pennsylvania Housing Finance Agency
Foxwood Preservation Partners, LP
10,784,341
-
10,954,222
-
2046 2036
variable
Harvest Homes Apartments LP
587,225
2,849
1,634,622
88,180
5.790% JPMorgan Chase Bank,
The Peoples Community Development Association of Chicago New Jersey Housing and Mortgage Finance Agency Bellwether Enterprises Real Estate Capital, LLC
Harvest Homes Apartments LP
1,039,544
-
-
-
2049
7.000%
Hollybush Preservation Partners, LP
13,920,000
121,877
14,075,000
122,749
2022
2.25%/3.55%
Mark Twain NHPF, LLC
25,030,803 5,000,000 2,220,000
94,838 68,163 10,918
27,325,000 5,000,000 2,220,000
-
2060 2019 2019
4.400%
New Covent, LLC New Covent, LLC
62,890 10,702
5.250% Community Investment Corporation
6.000% Chicago Community Loan Fund
New Jersey Housing and Mortgage Finance Agency New York City Housing Development Corporation
Orange Preservations Partners, LP
16,895,000
251,816
17,180,000
255,199
2028
4.839%
Plaza Borinquen 88 Owner II LP
8,108,182 4,636,177 2,287,821 19,842,013
41,698 26,324 13,975 110,173 48,230 83,662 287,813
8,222,426 4,743,290 2,334,977 19,777,452
40,770 26,879 14,263 104,980
2046 2027 2028 2044 2019 2024 2023
5.950%
Preservation Housing II, L.L.C. (Forest Park) Preservation Housing IV, L.L.C. (Walnut) Preservation Housing IV, L.L.C. (Walnut)
6.800% Pacific Life Insurance Company 7.330% Pacific Life Insurance Company 1.000% Louisiana Housing Finance Authority 5.960% LIIF Housing Preservation Fund, LLC
Princess Anne Owner, LP
9,397,500
9,397,500
48,230
Ridgecrest Ridgecrest
21,075,000
- -
- -
4.610% JP Morgan Chase Bank
7,500,000
4.500% DHCD/Capital Impact Partners
Massachusetts Development Finance Agency Industrial Development Authority of the City of St. Louis, Missouri
Ship's Cove Preservation Partners
10,495,938
35,951
10,653,304
35,951
2034
4.090%
St. Luke's Preservation Partners, LP
4,000,000
- -
4,000,000
- -
2042 2020
variable variable
Citibank NA
Takoma Place SM LLC
-
-
DC Department of Housing and Community Development
Takoma Place SM LLC The Pines Owner, LLC
13,637,505 14,192,356
-
-
-
2057 2023
3.000%
41,808
14,492,765
41,808
3.350% Jones Lang LaSalle Multifamily, LLC
DC Department of Housing and Community Development
Wade Road Investor, LLC (Parkchester) Wade Road Investor, LLC (Parkchester) Wade Road Investor, LLC (Parkchester)
6,229,857 9,366,429
37,739
6,413,410
18,528
2056 2056
1.000% variable variable
Citibank NA Citibank NA
- -
- -
- -
-
Refinanced
District of Columbia Housing Finance Agency
Woodmont Crossing Investor, LLC
25,096,216
445,333
25,398,000
93,003
2058
4.400%
Mortgage notes payable
559,250,838
$
2,735,238
396,463,466
$
2,037,625
Unamortized Debt Issuance Costs
(11,387,110)
(12,406,542)
Accrued interest
2,735,238
2,037,625
Mortgage notes payable, net
$
550,598,966
$
386,094,549
- 34 -
Powered by FlippingBook