AMI Capital Closes $27.3 Million Bridge Loan On Apartments in California.Business Editors ALEXANDRIA, Va.--(BUSINESS WIRE)--March 22, 2001 AMI Capital, Inc. closed a $27,300,000 bridge loan on a 344-unit apartment community in Temecula, California Temecula is a city in southwestern Riverside County, California, United States. The population was 57,716 at the 2000 census. The current population as of January 2007 has skyrocketed to 97,935. [1] It was incorporated on December 1, 1989. . The interim loan, with a variable rate of 9.6875 percent, has a term of 18 months. The loan-to-value was 78.50 percent. Loan-to-cost was 90 percent. Occupancy at closing was 95 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 office. Portofino Apartments, located at 30100 Rancho California Road in Temecula, was built in 2000. Amenities include a number of pools, a fitness center, a business center, volleyball courts, a clubhouse and covered parking. 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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