Commercial mortgage loan activity for last week
By MortgageDaily.com staff
May 9, 2002
Holliday Fenoglio Fowler, L.P. announced that it arranged financing for a 223,000 square foot office development located in Greenbelt, Maryland. The $12.8 million loan to Praedium Opportunity Fund is secured by Maryland Corporate Center. The lender on the transaction was an undisclosed Midwest-based bank.
$43 million in permanent financing was arranged by Holliday on Courvoisier Courts, a 27-story luxury apartment development in the Miami, Florida area. Metropolitan Life Insurance Company funded the fixed rate, first mortgage loan for the borrower, MPA Brickell Key, LLC.
Prudential Mortgage Capital Company announced that it originated two loans for $21.6 million for Alternative Housing L.L.C. and Alternative Housing Longleaf L.L.C. The FHA 30-year loans have interest rates at or near 5.8 percent. One loan is in the amount of $17.2 million and is secured by the Southlake Cove Apartments, a 345-unit garden apartment complex in Jonesboro, Georgia. The second loan, which is in the amount of $4.4 million, is secured by Long Leaf Apartments, a 76-unit garden apartment complex in Lawrenceville, Georgia.
GMAC Commercial Mortgage Corporation said it arranged $21,700,000 in financing for Woodbridge Apartments, a 214-unit apartment complex in Torrance, California.