Brinton Towers Apartments

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The Brinton Towers Apartments project consists of a 190-unit affordable senior rental housing development located at 2000 Brinton Manor Drive, Pittsburgh, Allegheny County, Pennsylvania 15221. Brinton Apartments Penn LLC, a single asset entity whose sole member is the Sole Member, acquired Brinton Towers Apartments on December 24, 2015. This project was financed with the proceeds 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 Towers are 97% 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.