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.


MUD, Multifamily Deals Arranged

Recent commercial mortgage activity

August 13, 2007

By COCO SALAZAR


photo of Coco Salazar

Commercial loans were arranged for several multifamily properties -- though loans secured by two mixed use properties were among a host of other financing deals announced in the latest installment of commercial mortgage transactions.

photo of Chicago MUD A two-building mixed-use property in Chicago with 49 residential units and 11 retail tenants found a $2 million mortgage through Meridian Capital Group, a press release indicated. The 5-year note has a 6.25 percent rate.

A $20 million mortgage was secured for a Pennsylvania mixed-used property on 42 acres, according to an announcement today from Meridian. Dozens of specialty shops, a 70-room inn and six restaurants are tenants in the property. The 10-year interest-only note has a rate of 6.42 percent.

A $3.2 million loan was issued for Hanover Village, a mobile home park with 101 pads in Wrightstown, N.J., Meridian reported. The 10-year financing has a rate of 5.9 percent.

The Piedmont Building, a four-story office building in Greensboro, N.C., secured financing of $1.15 million, Meridian announced. Gilbert Rockson will pay the 10-year deal at a rate of 6.5 percent for the first five years and 6.75 percent for the other five.

Meridan said it also arranged a $5.6 million deal for a retail strip mall in Snellville, Ga. The 10-year loan has rate of 6.29 percent. The center's tenants include CVS out parcel and a Michael's.

Love Funding closed a construction and permanent loan of nearly $9.7 million for the Village at Arborwood, a senior housing complex in Granger, Ind. Reenders Inc. will build the project, which secured a rate of 5.77 percent on the 40-year, self-amortizing loan. The completed three-story building will have a total of 120 units, according to an announcement by the Ohio office of St. Louis, Mo.-based Love.

Among multi-family deals, Arbor Commercial Funding LLC provided a refinance loan of nearly $1.1 million secured by Fitchburg Portfolio, a 23-unit complex in Fitchburg, Mass. The 10-year Fannie Mae loan amortizes on a 30-year schedule and carries a rate of 5.97 percent.

photo of the Village at Arborwood
Over in Ocala, Fla., the Magnolia Trace Apartments secured $1.7 million in financing for Bob Schafer, who agreed to 6.125% rate over a five-year term. The multifamily property holds 48 units, New York-based Meridian announced.

The Mason Hills Apartments in Mason, Mich., secured a $2 million refinance loan issued by Arbor. With a rate of 5.76 percent, the 10-year loan for the 94-unit complex amortizes over 30 years, the Uniondale, N.Y. lender reported.

Meridian reported arranging a $3.5 million loan for the LaHaina Apartments, a 60-unit multifamily property in Sunrise, Fla. Borrower Jomy Zacharias will pay a rate of 6.2 percent over a 10-year term.

photo of Chicago multifamily In Chicago, Ill., a multifamily complex secured a $4.3 million loan with a 6.06 percent rate over a 10-year term with three years interest-only. The 10-building property contains 143 units, according to New York-based Meridian.

Coco Salazar is an associate editor and staff writer for MortgageDaily.com.

e-mail: [email protected]



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