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Recap client, Housing Authority of the City of Santa Barbara, closes Pico Salsipuedes RAD Transaction

Recap client, Housing Authority of the City of Santa Barbara, closes Pico Salsipuedes RAD Transaction|News|June 3, 2015

Recap Real Estate Advisors (Recap) announces the closing of a Rental Assistance Demonstration (RAD) deal on behalf of the Housing Authority of the City of Santa Barbara. The transaction was for Pico Salsipuedes, a former public housing property.

The Housing Authority utilized public housing operating reserves, to finance a renovation of the property.  Working with the Housing Authority and other members of the development team, Recap helped guide this conversion through both the RAD regulatory requirements towards a successful closing.