Lument Secures $28M HUD Loan for Ohio Affordable Housing Rehab

Deal Summary

Lument closed a $28 million HUD/FHA Section 221(d)(4) loan to fund the rehabilitation of the Western Horizon affordable housing community in Lorain, Ohio. The financing, aimed at assisting TFG Housing Resources and Raise Up, also includes $9.2 million in tax‑exempt bonds underwritten by Lument Securities. The deal leverages the Rental Assistance Demonstration program and low‑income housing tax credits from the Ohio Housing Finance Agency.