AMI Capital Closes $7 Million Multifamily Loan in Kansas City.Business Editors BETHESDA, Md.--(BUSINESS WIRE)--Oct. 12, 2001 AMI Capital, Inc. closed a $6,992,200 second mortgage loan on a 690-unit apartment community in Kansas City, Missouri Kansas City is the largest city in the state of Missouri. It encompasses parts of Jackson, Clay, Cass, and Platte counties and is the anchor city of the Kansas City Metropolitan Area, the second largest in Missouri, which includes counties in both Missouri and Kansas. . The 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) loan, at a rate of 6.99 percent, had a 10-year term and a 30-year amortization with 9.5-year yield maintenance. The loan-to-value was 79.61 percent, and debt service coverage was 1.25. Investment Director Mary Dee Clancy handled the transaction on behalf of a repeat customer for AMI Capital. Quail Run and Quail Cove Apartments, located at 8504 North Crosby, is a class A property that was built in 1986. It was 91.16 percent occupied at closing. The elegant garden-style apartment complex is conveniently located close to I-29 and Barry Road and offers easy access to downtown Kansas City Downtown Kansas City, Missouri, the central part of the Kansas City Metropolitan Area, is defined by the Kansas City, Missouri Downtown Council and City Hall officials as the area located between the Missouri River in the North, to 31st Street in the South; and from the , the airport and upscale shopping. Amenities include gated entry, washer and dryer connections in each unit, stone fireplaces, two indoor spas, a weight room, two swimming pools, four saunas, two sand volleyball courts and five lighted tennis courts. AMI Capital is a nationwide mortgage lender focusing on loans for multifamily housing communities, office buildings, hotels, industrial properties, retail centers and senior housing. Since its inception in 1990, AMI Capital's portfolio has grown to more than $2.2 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 product line consists of Fannie Mae DUS, 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, Denver, Kansas City, Los Angeles and Phoenix. |
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