March 31, 2014:
Dalcor purchases Castle Woods Apartments, 304 units in Casselberry, Florida. Affordable Housing Partners, a wholly owned subsidiary of Berkshire-Hathaway, provided the equity; Florida Housing Finance Corporation issued $14 million of collateralized multifamily mortgage revenue bonds with Oak Grove Capital (Freddie Mac) providing $15.9 million of permanent financing. RBC Capital Markets was the bond underwriter. Castle Woods will be rehabilitated as a LIHTC community which is expected to be completed in the fourth quarter of 2014.