Walker & Dunlop arranged $23.9M in construction equity for Emberwood, a to-be-built senior affordable housing apartment complex located in Casa Grande, Arizona. 

The W&D Affordable Equity team led by Aaron Krasnow arranged the equity on behalf of the client, Roers Companies. ($23.9 million 4% LIHTC and REITC equity syndication).

Emberwood will be a senior living community serving residents aged 55 and over. The 176-unit senior living community will be located on 8.24 acres and feature a three-story low-rise building and a separate single-story community center. The development will include 55 one-bedroom and 121 two-bedroom apartments, all within an elevator-accessible building. The property will be next door to a 55,000-square-foot community recreation center that opened in 2019 and offers extensive senior programs.

Roers Companies is a multifamily real estate firm powered by in-house development, construction, and property management. The company has 13,000 units either built or under construction.