AMI Capital Closes $22.5 Million Loan On Apartments in Orlando.Business Editors/Banking Writers ALEXANDRIA, Va.--(BUSINESS WIRE)--March 20, 2001 AMI Capital, Inc. closed a $22,533,000 acquisition loan on a 544-unit apartment community in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. . The Fannie Mae Fannie Mae: see Federal National Mortgage Association. credit facility loan, with a variable rate of 7.652 percent, has a term of five years. The loan-to-value was 71.60 percent. Loan-to-cost was 70.30 percent. Debt service coverage was 1.31. Occupancy at closing was 97 percent. The transaction was handled by National Sales Vice President Thomas Demery Thomas T. Demery (July 18, 1949-) was the Assistant Secretary of the United States Department of Housing and Urban Development (HUD) during the Reagan presidency. He left the office in disgrace when he was convicted of steering HUD subsidies to politically connected land developers. in the firm's Alexandria, Virginia Alexandria is an independent city in the Commonwealth of Virginia. As of the 2000 census, the city had a total population of 128,284. Located along the Western bank of the Potomac River, Alexandria is approximately 6 miles (9.6 kilometers) south of downtown Washington, DC. office. Lakefront at Metrowest Apartments, located at 1053 South Hiawassee Road in Orlando, was built in 1990. Amenities include a number of pools, a lake, a fitness center, a business center, volleyball courts and a clubhouse. The property is a gated community. 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 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. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion