Housing Authority of the City and County of Denver, Colorado

Overview

Deal Type Debt Capital Markets
Size $75 Million
Multifamily Housing Revenue Bonds (Flo Senior Apartments Project) (Sustainability Bonds) Series 2023A and B
Client & Transactional Partners Housing Authority of the City and County of Denver, Colorado
Our Role Sole Manager

Summary

On July 11, 2023, the Housing Authority of the City and County of Denver, Colorado (DHA or the Authority) closed its Series 2023A and B Multifamily Housing Revenue Bonds, issued to finance its Flo Senior Apartments project. DHA issued taxable and tax-exempt bonds under a single integrated debt financing product, backed by its general revenues, in the capital markets for its 212-unit apartment building for seniors and non-elderly disabled residents. KeyBanc Capital Markets served as Sole Manager on the transaction.

DHA is a quasi-municipal corporation with a portfolio of over 13,000 units and housing choice vouchers, providing affordable housing to more than 27,000 very low, low, and middle-income individuals. DHA's mission is to serve the residents of Denver by developing, owning, and operating safe, decent, and affordable housing in a manner that promotes thriving communities. DHA has been creating vibrant communities and sustainable neighborhoods since 1938.

The Denver Housing Authority remarked on the transaction, noting ‘Key did an excellent job in underwriting and marketing the Multifamily Housing Revenue Bonds for the Housing Authority's Flo project which generated over $7 million in economic benefit to the project over a private placement financing option.’ To learn more, visit the DHA website at denverhousing.org.

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