San Bernardino, CA — CTL Capital is pleased to announce the closing of a $19,850,000 credit tenant lease (CTL) loan for a workforce housing project secured by a 40-year lease with the Housing Authority of San Bernardino County.
The financing supports the conversion of an existing 38-unit apartment complex into dedicated workforce housing, expanding affordable housing options for moderate-income households in the region. The project comprises 26 two-bedroom units, six three-bedroom units, and six four-bedroom units—each featuring modern interiors, energy-efficient appliances, and community amenities.
Structured as a credit tenant lease loan, the financing provides long-term, fixed-rate capital markets debt without requiring a capital outlay from the housing authority, ensuring the project’s long-term financial sustainability. CTL financing continues to prove an effective and scalable tool for delivering workforce housing by unlocking 100% loan-to-cost solutions supported by strong public-sector leases.
This transaction highlights CTL Capital’s deep experience in government lease financing and its continued commitment to supporting essential community infrastructure.