FHA-insured · 221(d)(4) new construction or substantial rehab
Preservation Square Iia
1405 N 16th St, St Louis, MO 63106 · 137 units
Preservation Square Iia carries a $6.3 million FHA-insured mortgage at a 5.9% note rate, endorsed by HUD on September 16, 2024 and maturing in October 2064. HUD's file put the amortized balance at $6,181,558 as of September 30, 2026, with 38 years 1 month left on the term. The loan is paired with low-income housing tax credits.
1% repaid
Would a 223(a)(7) refinance lower the payment?
This loan's 5.9% rate is above the 5.54% median on HUD apartment loans endorsed in the 12 months before September 30, 2026. At that median, on the same balance and remaining term, principal and interest would run about $32,000 a month instead of about $34,000: roughly $18,000 a year less, before mortgage insurance, closing costs and any prepayment premium in the note.
A 223(a)(7) is HUD's streamlined refinance of a loan it already insures. No cash out, and the new loan can't exceed this loan's original amount. Run this property through the 223(a)(7) estimator with your own rate, term and costs.
Own this property?
Send it to the commercial mortgage team at Janover Capital LLC. Say whether you are assuming, refinancing or adding a supplemental loan, and we will give you a preliminary read on what a HUD lender is likely to need. Any terms come from the lender.
Janover Capital LLC is not HUD, FHA or the lender on this loan, and is not affiliated with or endorsed by either. The loan figures on this page come from HUD's public file and are not an offer of credit.
Other HUD-insured loans in St Louis
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- Covington Place Apartments 400 units · 2.22% · matures 2056
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- Black Forest Apartments 160 units · 2.38% · matures 2057
- Pointe 400 (pet Plaza) 118 units · 2.4% · matures 2052
- Downtowner Apartments 95 units · 2.44% · matures 2057
- Hanley Crossings Apts 208 units · 2.48% · matures 2052
- Centennial Plaza Apartments 77 units · 2.55% · matures 2041
Source: HUD, Insured Multifamily Mortgages, active file, current as of September 30, 2026. Street address from HUD's Insured Multifamily Properties map layer. Rates and balances are as HUD reports them; if HUD's file is wrong, this page is too. How we use the data.