By Stephen Nakrosis
The Public Finance Authority, a governmental entity established by Wisconsin law, is offering $23.3 million in bonds to support the purchase and renovation of the Villas at Sonterra, a Texas multifamily residential facility.
The offering of multifamily housing revenue bonds will consist of $18.9 million of Series 2025A-1 bonds, $2.4 million of taxable Series 2025A-2 bonds, and $2 million of subordinate Series 2025B bonds. The bonds will be backed by a trust estate, which will include loan payments property rights and interests, and other assets.
The Villas at Sonterra, a residential rental housing community consisting of 156 units, will be acquired by AHF-Villas at Sonterra, a Texas company whose sole member is Atlantic Housing Foundation, a South Carolina nonprofit. The community also includes a clubhouse and laundry and parking facilities. AHF-Villas at Sonterra will renovate the units, replacing appliances, flooring and countertops.
The Public Finance Authority is jointly sponsored by the National Association of Counties, National League of Cities, Wisconsin Counties Association and League of Wisconsin Municipalities. It was established to provide financing for projects on behalf of local governments throughout the country, including affordable housing, education and infrastructure investment.
Moody's has assigned a rating of Ba2 to the Series 2025A bonds.
DA Davidson is listed as the offering's manager.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 09, 2025 15:34 ET (20:34 GMT)
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