$17m closed by ARCS.Steven Heller, SVP/Eastern Region of ARCS Commercial Mortgage Co., announced the closing of $6,127,000 million in financing for the Monroe Office Building, a two-story, 69,678 s/f office building in Philadelphia, PA. Constructed in 1960 and updated in 1983, the Monroe Office Building is located in a suburban neighborhood of Philadelphia and houses several non-profit organizations A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. . The loan was originated by ARCS' Princeton, NJ office through ARCS Capital Markets Group. The loan was for a 73 month term/30 year amortization at a rate of 6.135%. Howard Levine, President/CEO of ARCS Commercial Mortgage Co., announced the closing of $11,377,000 for the Pacific at Mission Bay, a 113-unit property located in the Pacific Beach Community of San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . Built in 1971, Pacific at Mission Bay is a 3-story garden style complex on 2.4 acres of land. Common amenities consist of security access, garage parking, gym and fitness room, laundry room A laundry room (also called a utility room) is a room where clothes are washed. In a modern home, a laundry room would be equipped with an automatic washing machine and clothes dryer,and often a large basin, called a laundry tub, for hand-washing delicate articles of clothing such , outdoor pool with spa, sauna sauna Bath in steam from water thrown on heated stones. Known in ancient times in various places, saunas are most closely identified with the Finnish people, who made saunas a national tradition. , recreation room, and storage spaces. The loan was originated by ARCS' San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden office. The loan was for a 10 year term/Interest Only at a rate of 5.835%. |
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