Brinton Manor Apartments

The Brinton Manor Apartments project consists of a 219-unit multifamily residential rental project located at 3000 Locust Street, Pittsburgh, Allegheny County, Pennsylvania 15221. Brinton Apartments Penn LLC, a single asset entity whose sole member is the Sole Member, acquired Brinton Manor Apartments on December 24, 2015, in connection with the issuance of $18,415,000 in original aggregate principal amount of Pennsylvania Housing Finance Special Limited Obligation Revenue Bonds (Brinton Manor Apartments and Brinton Towers Apartments Project), Series 2015. S&P rated these bonds and these bonds currently have a credit rating of “A+”. As of August 1, 2016, the units in Brinton Manor Apartments are 98% occupied. The project has made all debt service payments, when due, and is in material compliance with its financial and operating covenants.  The project is in material compliance with the terms of its HAP Contract and has not received any notice from HUD of any termination, suspension or revocation of its HAP Contract.