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.



After The Fire

This week's commercial mortgage loan activity

October 1, 2001

By SAM GARCIA

Citigroup Center for Community Development Enterprise -- a business unit of Citigroup (NYSE: C) -- has announced that it has provided a $403,000, 10-year fixed-rate mortgage loan to Single Room Occupancy Housing Corporation, a non-profit housing development organization established in 1984 to provide affordable housing in Los Angeles' Central City East or Skid Row neighborhood. The financing will be used to create new affordable housing for homeless veterans at the Southern Hotel in downtown Los Angeles. Financing was also provided by the Los Angeles Homeless Services Authority, a construction / permanent loan from the Housing Authority of the City of Los Angeles, and a Federal Affordable Housing Program direct subsidiary of $299,400 through an application that was submitted by Citibank.

MuniMae Midland, LLC (MM), the operating company of Municipal Mortgage and Equity, LLC (NYSE: MMA), announced the recent funding of $52.5 million in acquisition financing for The Fairways, a 849-unit complex, located in Derry, New Hampshire. The financing package utilized a $45,000,000 Fannie Mae fixed rate bond credit enhancement with a $2.8 million taxable tail structured as an earn-out together with a subordinate loan in the amount of $4.7 million.

MM also funded a $21 million in second mortgage debt for CAPREIT Tera Venture, a multi-property portfolio of 2,942 apartment homes located in Iowa, Florida, Indiana, Georgia, Indiana and South Carolina. The loan package was combined with first mortgage tax-exempt bonds and subordinate mortgage(s) held by Merrill Lynch to provide a total financing package in excess of $140 million.

Venture West Funding, Inc. announced that it has arranged a loan for King Kalakaua Plaza, a 74,433 sq. ft. retail project located in Waikiki Beach, Honolulu, Hawaii. The total loan amount is $14,000,000 and is secured by the leased fee interest on the land on which the King Kalakaua Plaza resides. The loan is a 30-year loan due in 10 years.

MortgageDaily.com
AMI Capital, Inc. closed a $5,028,000 refinance loan on Oak Park & The Landings Apartments, a 269-unit apartment community in Dallas, Texas. The Fannie Mae DUS loan had a rate of 7.05 percent, a 10-year term and a 30-year amortization with 9.5 year yield maintenance. The loan-to-value (LTV) was 80%, and debt service coverage (DSCR) was 1.34 times (x).

AMI also closed $4,268,000 refinance loan on Cypress Garden Apartments, a 109-unit apartment community in Redlands, California. The 7.245% Fannie Mae DUS loan had a 10-year term and a 30-year amortization with 9.5 year yield maintenance. The LTV was 80 percent, and the DSCR was 1.25x.


Sam Garcia has been in mortgage lending since 1980, and is managing editor of MortgageDaily.com. He also owns and operates CloseNow.com, a real estate portal site.

email: [email protected]

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