>
home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.



AMI Capital Closes $7.6 Million Apartment Loan in Denver

DENVER, Colo.--(BUSINESS WIRE)--July 27, 2001--AMI Capital, Inc. closed a $7,613,100 construction/permanent loan on a 74-unit multifamily property in a historic area near downtown Denver, Colorado.

The FHA 221(d)4 loan, at a rate of 6 percent excluding MIP, was funded through the sale of tax-exempt private activity bonds. The loan has a 40-year amortization after a 14-month construction period. The loan-to-cost was 85.9 percent, and debt service coverage was 1.11. Stephen A. Wessler, managing director of the firm's Denver office, handled the transaction for AMI Capital.

Highlands Gardens Village Apartments, located at 4717 W. 37th Avenue in Denver, is a Class ``A'' property with 61,122-square-feet of net rentable space. Construction is expected to be completed by July 2002, and targeted final lease-up is December 2002. Planned amenities include a 1,694-square-foot clubhouse/office, garages, balconies and ample storage. In-unit amenities include a washer and dryer, dishwasher, garbage disposal and built-in computer center.

``We're excited to have the project underway. It meets our mission ... we think the design is exciting,'' said Chuck Perry, a principal with Burgwyn, Perry & Rose, a Denver-based development and planning firm. The borrower is a Colorado limited partnership whose principals are involved in numerous urban renewal and urban infill developments.

``Our philosophy is to ... reweave the urban fabric of the city,'' Perry said. ``We create new housing in older areas that is consistent with the character of those areas.'' Perry went on to say that his firm's ``experience with AMI Capital was very good. They were very timely.''

Twenty-five percent (19) of the community's units are set aside at 50 percent of area median income levels. The building is part of a larger redevelopment area that was formerly Elitch Gardens Amusement Park, which possesses historic designation as Denver's first public zoo. Therefore, the new multifamily community was subject not only to Denver's PUD zoning approval process but also had to be consistent with the local Neighborhood Revitalization Plan.

MortgageDaily.com
AMI Capital is a nationwide mortgage lender focusing on loans for multifamily housing communities, office buildings, hotels, industrial properties, retail centers and senior housing. Since its inception in 1990, AMI Capital's portfolio has grown to more than $2.1 billion. Headquartered in Bethesda, Maryland, AMI Capital's product line consists of Fannie Mae DUS, FHA and commercial programs, including conduits and life insurance financing products. AMI Capital's regional offices are located in Alexandria, VA, Atlanta, Denver, Kansas City, Los Angeles and Phoenix.

Contact:
AMI Capital
Rachel E. Reynolds
301.321.1287

hosted by USANow.net

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders