X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ROUND ROCK, TX-The Texas Department of Housing and Community Affairs has designated a $9.9-million, tax-exempt bond plus a $400,000 taxable multifamily housing revenue bond for Charter Municipal Mortgage Acceptance Co. to finance a 168-unit affordable housing apartment complex in Round Rock.

Red Hills Villas, located at 1100 S. Creek Dr., is one of four properties being acquired by CharterMac through the $33.4 million tax-exempt bond package. The other properties are located in Dallas, Charlottesville, VA and Philadelphia.

Also this week, CharterMac has posted a fourth quarter dividend of $0.275 per share. CharterMac’s current quarterly dividend is $1.10 per share, representing an 8.4% yield on the $13.09 per share closing price on Dec. 15.

CharterMac invests in tax-exempt bonds, the proceeds of which are used by borrowers to finance and refinance the development and ownership of multifamily housing nationwide. The company’s portfolio is comprised of direct and indirect ownership interests in tax-exempt multifamily bonds in 18 states and the District of Columbia.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.