AMI Capital Closes $1.25 Million Retail Loan in Louisiana.

Business Editors

BETHESDA, Md.--(BUSINESS WIRE)--Sept. 20, 2001

AMI Capital, Inc. closed a $1,250,000 refinance loan on a 20,640-square-foot retail property in New Iberia, Louisiana.

The conduit loan, at a rate of 7.65 percent, had a 10-year term and a 30-year amortization. The loan-to-value was 73.5 percent, and debt service coverage was 1.25. The transaction closed on September 7, 2001.

Centre Court, located at 616 South Lewis Street in New Iberia, is a shopping center that was built in 1999 in a small, newly stabilized neighborhood in a tertiary location. The Class-A property was 100 percent occupied at closing.

AMI Capital is a nationwide mortgage lender focusing on loans for multifamily housing communities, office buildings, hotels, industrial properties, retail centers and senior housing. Since its inception in 1990, AMI Capital's portfolio has grown to more than $2.2 billion.

Headquartered in Bethesda, Maryland, AMI Capital's product line consists of Fannie Mae, DUS, FHA and commercial programs, including conduits and life insurance financing products. AMI Capital's regional offices are located in Alexandria, VA, Atlanta, Denver, Kansas City, Los Angeles and Phoenix.