10-year term for Forest financing.Howard Levine, president/CEO of ARCS Commercial Mortgage Co., announced $16,240,000 in financing for the Forest Ridge Apartments, a 278-unit property in Flagstaff Flagstaff, city (1990 pop. 45,857), seat of Coconino co., N Ariz., near the San Francisco Peaks; inc. 1894. Lumbering, ranching, and a lively tourist trade thrive in the region, where many ruined pueblos, numerous state parks, several lakes, and large pine forests , AZ. Constructed in 2 phases (1967 and 1975), Forest Ridge Apartments is a garden style complex consisting of one and two-story buildings. Common amenities include a clubhouse, tennis court, an outdoor racquetball racquetball, sport played indoors by two or four players, combining elements of court handball and such racket games as squash racquets. It is played on a standard handball court 40 ft (12.2 m) long, 20 ft (6. court, playground and two laundry rooms 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 . 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 though ARCS Capital Markets Group. The loan was for a 10 year term/30 year amortization. The loan will be Interest Only for the first 5 years at a rate of 6.19%. |
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