AMI Capital Closes $2 Million Loan On Apartment Community in West Hollywood, CA.Business Editors LOS ANGELES--(BUSINESS WIRE)--March 13, 2001 AMI Capital, Inc. closed a $2,000,000 first mortgage loan on a 20-unit apartment community in West Hollywood, California West Hollywood, an incorporated city in Los Angeles County, California, was founded on 29 November 1984. The total residential population is just over 37,000; however, the nighttime and weekend population swells to between 80,000 and 100,000, with a high of up to 500,000 during . The loan, with a rate of 7.23 percent, has a 10-year term with 30-year amortization. The loan-to-value was 67 percent. Debt service coverage was 1.30. Occupancy was 100 percent at closing. The transaction, handled by Eric Salveson and Brent Lister, managing directors of the firm's Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. office, closed on February 16, 2001. San Vicente Terrace Apartments, located at 926 N. San Vicente Boulevard San Vicente Boulevard is a major northwest-southeast thoroughfare located in the western portion of the Metropolitan Area of the U.S. city of Los Angeles, California. in West Hollywood, were built in 1961 and 15 units were renovated in 1999. The property consists of two, two-story frame and stucco buildings facing a central courtyard/entry above a semi-subterranean parking garage with 27 parking spaces and storage lockers. The facility also has a laundry room. It is composed of two unit types with three different floor plans. Units have wood flooring in the kitchen, living/dining room and hallway. Fireplaces have been installed in upstairs units. 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, AMI Capital'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 Alexandria, VA, Atlanta, Columbus, OH, Denver, Kansas City, Los Angeles and Phoenix. |
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