Within walking distance to the beach, Pelican Pointe Apartments is the newly-constructed 78-unit apartment complex for families in Panama City Beach, Florida, a major tourist destination. The Property consists of forty-five two-bedroom, two-bathroom units, twenty-seven three-bedroom, two-bathroom units, and six four-bedroom, two-bathroom units in two three-story, garden-style residential buildings and one single-story community building. The Property is restricted to families earning 40% and 60% of the area median income (AMI) or below.

The property was financed with federal 4% Low-Income Housing Tax Credits from R4 Capital, and construction and permanent private placement tax-exempt bonds from R4 Capital Funding.