THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED YEARS ENDED DECEMBER 31, 2018 and 2017
NOTE 10 - MORTGAGE NOTES PAYABLE Mortgage notes payable and accrued interest consist of the following: 2018 Mortgage 2017 Mortgage 2018 Accrued 2017 Accrued Maturity
Interest
Affiliated Entity
Amount
Amount
Interest
Interest
Date 2022
Rate
Description or Mortgagee
Pepper Tree
$
3,582,004
$
3,652,935
$
-
$
-
5.000% PNC Bank
Texas Dept. of Housing and Community Affairs Bellwether Enterprise Mortgage Investment LLC
Pepper Tree
3,231,400
3,359,800
-
-
2044
0.000%
ACT LaSalle ACT LaSalle
902,857 882,277
915,000 889,698
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
Alabama Ave. Roundtree
4,770,000
4,840,000
55,332
56,144
2048
2.320%
Alabama Ave. Roundtree Alexander House Alexander House Anacostia Gardens Anacostia Gardens Bayview Preservation
5,000,000 4,800,000
5,000,000 4,800,000
267,546
261,171
2051 2019
1.000%
- -
- -
Varies
Enterprise Community Loan Fund Inc.
900,000
900,000
At Conversion
6.000% Enterprise Community Loan Fund Inc.
6,400,000 2,400,000 15,153,408
6,400,000 2,400,000 15,262,010
32,099 12,000 80,979
26,450 12,000 80,979
2019
variable
Eagle Bank
At Recapitalization
6.000% Local Initiatives Support Corporation 6.250% Connecticut Housing Finance Authority
2054
Maryland Community Development Administration
Bolton North Clipper Cove Clipper Cove Cleme Manor
24,795,000 15,897,775
25,200,000 16,286,848
189,141 50,926 37,038
257,138 52,172 37,563
2034 2023 2023
variable
3.720% PNC Bank 5.160% PNC Bank 3.250% PNC Bank
8,335,561
8,453,691
17,860,815 61,299,506
14,933,422 92,103,279
8,081
41,220
At Conversion
Columbia Heights Village
185,806
-
2022
3.520% Enterprise Mortgage Investments, LLC
Bellwether Enterprise Mortgage Investments, LLC
Columbia Heights Village
28,959,808
-
116,459
-
2022
4.670%
Falls Church Falls Church
-
6,235,400
-
20,954
Refinanced
3.368% Oak Grove Commercial Mortgage, LLC 4.780% Jones Lang LaSalle Multifamily LLC
7,471,087
-
28,822
-
2028
Bank of America, N.A./Pennsylvania Housing Finance Agency
Foxwood Preservation
10,954,222
11,114,665
-
-
2046 2036
variable
Harvest Homes
595,078
600,000
2,967
1,062
5.790% JPMorgan Chase Bank
The Peoples Community Development Associations Chicago New Jersey Housing and Mortgage Finance Agency Bellwether Enterprises Real Estate Capital, LLC
Harvest Homes
1,039,544
519,772
85,213
25,319
2049
7.000%
Hollybush Preservation
14,075,000
14,225,000
122,749
123,594
2022
2.25%/3.55%
Mark Twain NHPF
27,325,000 5,000,000 2,220,000
-
-
- -
2060 2019 2019
4.400%
New Covent New Covent
5,000,000 2,220,000 16,600,000
62,890 10,702
5.250% Community Investment Corporation 6.000% Chicago Community Loan Fund
9,546
New Mark Twain New Mark Twain
- -
- -
108,080
Refinanced Refinanced
variable
PCI Investor Lender Fund III LLC
5,250,000
25,477
6.000% Chicago Community Loan Fund
New Jersey Housing and Mortgage Finance Agency New York City Housing Development Corporation
Orange Preservations
17,180,000
17,445,000
255,199
257,293
2028
4.839%
Plaza B II
8,222,426 4,743,290 2,334,977 19,777,452
8,390,000 4,843,381 2,378,810 19,749,073
40,770 26,879 14,263 104,980
41,304 27,446 14,531 122,515
2046 2027 2028 2044 2019
5.950%
Forest Park
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
Walnut Square Walnut Square
Princess Anne Owner
9,397,500
-
48,230
-
Massachusetts Development Finance Agency Industrial Development Authority of the City of St. Louis, Missouri
Ship's Cove Preservation
10,653,304
10,804,374
35,951
35,515
2034
4.090%
St. Luke's Preservation
4,000,000
4,000,000 2,335,909 14,783,156
- -
6,627 8,269
2042 2020 2023
variable variable
Takoma Place
-
Citibank NA
Pines at Carolina
14,492,765
41,808
-
3.350% Jones Lang LaSalle Multifamily, LLC
DC Department of Housing and Community Development
Wade Road Parkchester Wade Road Parkchester
6,413,410
6,413,410
18,528
-
2056
1.000% variable
-
717,462
-
2,231
Refinanced
Citibank NA
District of Columbia Housing Finance Agency
Woodmont Crossing
25,398,000
-
93,003
-
2058
4.400%
Sub-total
396,463,466
359,022,095
2,037,625
1,654,600
Eliminations
-
-
-
(27,096)
Total
396,463,466
359,022,095
$
2,037,625
$
1,627,504
Unamortized debt issuance costs
(12,406,542)
(9,426,003)
Accrued Interest
2,037,625
1,627,504
Balance, Net of Unamortized Debt Issuance Costs
$
386,094,549
$
351,223,596
- 32 -
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