AMI Capital Closes $3 Million Apartment Loan in California.

Business Editors/Banking & Real Estate Writers

LOS ANGELES--(BUSINESS WIRE)--April 3, 2001

AMI Capital, Inc. closed a $3,040,000 acquisition loan on a 94-unit apartment community in Rialto, California.

The Fannie Mae DUS loan, at a rate of 7.13 percent, includes a 10-year term and 30-year amortization. The loan-to-value was 77.95 percent, and debt service coverage was 1.27. The transaction closed on March 1, 2001. Brent Lister, managing director in the firm's Los Angeles office, handled the transaction on behalf of a customer new to AMI Capital.

Casa Del Sol Apartments, located at 268 North Spruce and 900 West Lorraine in Rialto, was built in 1973 and was 95.74 percent occupied at closing. The property, which consists of 94 townhouse apartments located in 16 row-style buildings, has undergone moderate renovations during the last 18 months. Amenities include a gated playground area, two laundry rooms and carports.

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, 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.