Utah to Sell $21.6 Million in Multifamily-Housing Revenue Bonds
By Chris Wack
The Utah Housing Corp. is issuing $21.6 million in multifamily housing revenue bonds to finance a loan for rental property in Moab, Utah.
The Series 2025 bonds are being issued to finance a loan to The Collaborative 1581 Phase 1 LLC, a Utah limited liability company, according to documents published on MuniOS.
The proceeds will allow the borrower to pay a portion of the cost of buying, constructing and equipping the 144-unit multifamily rental-housing project.
The bonds are tax exempt. Yields and coupons have not yet been determined. The bonds will mature on Feb. 1 and Aug. 1 of each year. The initial tender date for the bonds is Feb. 1, 2029, with a maturity date of July 1, 2045.
The Utah Housing Corporation is an independent body politic and corporate to assure an adequate source of capital for housing for low- and moderate-income persons living in Utah.
The apartment project is located on a 5.8-acre site in Moab, Utah. Common-area improvements will include an outdoor playground, wireless or wired network to each unit with free service, gym, and electric-vehicle-ready parking. Construction is expected to begin as soon as the bonds are issued, and will be completed in about 16 months.
Moody's has assigned a rating of Aa1 to the bonds.
KeyBanc Capital Markets is the lead underwriter.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 12, 2025 14:00 ET (19:00 GMT)
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