BBDC - Barings gets $11.5M financing for Euclid Glenmore Apartments

• Barings ( NYSE: BBDC ) will provide $11.5M in permanent financing for Euclid Glenmore Apartments, an affordable multifamily housing development in the East New York section of Brooklyn.
• The project is being developed by the Lantern Organization and Mega Contracting Group.
• "It's great to see this housing development begin construction. Market dynamics for affordable housing developers are currently very challenging and structuring these transactions requires creativity and the ability to continuously restructure deals until they are ready to close," said Daron Tubian, Managing Director and Head of Affordable Housing Investments at Barings. "Barings' long-lasting commitment to work with Lantern and Mega on this development is a key element of how we manage our relationships with partners dedicated to helping communities in New York City and across the country."

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