AMI Capital Closes $15 Million Apartment Loan in Colorado.Business Editors DENVER--(BUSINESS WIRE)--Nov. 16, 2000 AMI Capital, Inc. closed a $14,940,800 loan on a 220-unit apartment community in suburban Denver. The construction and permanent FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). 221(d)4 loan, at a rate of 8.11 percent, carries a 16-month construction period with 40-year amortization. The loan-to-cost was 81.3 percent, and debt service coverage was 1.11. Steve Wessler, managing director of AMI Capital's Denver office, handled the transaction. Construction on the property, located on Centre Tech Parkway in Aurora, Colorado The City of Aurora is the third most populous city in the State of Colorado and the 59th most populous city in the United States.[5] The municipality is split between Arapahoe County and Adams County, with a small portion lying in Douglas County. , is scheduled to be completed in November 2001. Expected time of lease up is six months. Plans for the development include a clubhouse with pool, business center and workout facility. The community will also include 110 detached garages and 75 storage lockers. Individual units will include an installed stackable washer and dryer or full-size washer/dryer hook-ups, nine-foot ceilings, oval tubs, built-in computer desks and microwaves. WestRidge is being built adjacent to the Highline Canal trail, a significant pedestrian and bicycle recreation trail through the metro Denver area. Residents may access the trail via a pedestrian bridge. AMI Capital is a nationwide mortgage lender focusing on loans for multifamily housing communities, office buildings, luxury hotels, industrial properties, retail centers and senior housing. Since its inception in 1990, AMI Capital's portfolio has grown to more than $1.7 billion. Headquartered in Bethesda, Maryland Bethesda is an urbanized, but unincorporated, area in southern Montgomery County, Maryland, just Northwest of Washington, D.C. It takes its name from a church located there, the Bethesda Presbyterian Church, built in 1820 and rebuilt in 1850, which in turn took its name from , 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 and commercial programs, including conduits and life insurance financing products. AMI Capital's regional offices are located in Alexandria, VA, Atlanta, Columbus, OH, Denver, Kansas City, Los Angeles and Phoenix. |
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