AMI Capital Arranges Financing of $22 Million for 400-Unit Garden Complex in Orlando.DALLAS--(BUSINESS WIRE)--Sept. 13, 1999-- The Dallas office of AMI Capital, Inc. has arranged the financing of a loan on a 400-unit Class A garden apartment complex in Orlando, Florida. The construction financing of The Fountains at Waterford Lakes in Orlando was funded through a first mortgage loan of $22,000,000 from the Florida office of Bank United. The site is part of the existing Waterford Lakes Planned Unit Development A Planned Unit Development, or PUD, is both a type of building development as well as a regulatory process. A PUD is a designed grouping of varied and compatible land uses, such as housing, recreation, commercial centers, and industrial parks, all within one contained (PUD PUD abbr. peptic ulcer disease Peptic ulcer disease (PUD) A stomach disorder marked by corrosion of the stomach lining due to the acid in the digestive juices. ), a well-established 1800-acre PUD in East Orlando. The property consists of 15 three-story buildings, with an average unit size of 949 square feet. Unit amenities include 9-foot ceilings, walk-in pantries, walk-in closets, ceramic tile entries, French doors, waterfront views, and garages with automatic door openers. The borrower, a Colorado-based developer, builds high-end, multifamily developments. AMI Capital is a nationwide mortgage lender focusing on loans for multifamily housing complexes, office buildings, industrial properties, retail centers and senior housing. Since its inception in 1990, AMI Capital's portfolio has grown to more than $1.5 billion. Headquartered in Bethesda, Maryland, AMI Capital's principals include ULLICO ULLICO Union Labor Life Insurance Company Inc., whose assets exceed $3 billion. The firm's product line consists of Fannie Mae Fannie Mae: see Federal National Mortgage Association. DUS DUS Driving Under Suspension (criminal charge) DUS Dwelling Unit (real estate) DUS Dynamic Underground Stripping DUS Dusseldorf, Germany - Dusseldorf (Airport Code) , FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). and commercial programs, including conduits and life insurance financing products. AMI Capital's regional offices are located in Atlanta, Chicago, Columbus, Dallas, Denver, Kansas City, Los Angeles, New York, Portland, San Francisco and Tampa. |
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