ARCS Commercial Mortgage Co.Howard Levine, president/CEO of ARCS Commercial Mortgage Co., announced the following transactions: * $826,000 in financing for the Poster Neutra Apartments, an 8-unit property 10 minutes from downtown LA in North Hollywood. Designed by the architect, Richard Neutra Richard Joseph Neutra (April 8, 1892 – April 16, 1970) is considered one of modernism's most important architects. Neutra was born in Vienna, Austria in 1892. He studied under Adolf Loos, was influenced by Otto Wagner, and worked for a time in Germany in the studio of and built in 1958, owner and developer, Mike Resnick Michael Diamond Resnick (born Chicago, March 5, 1942), better known by his published name Mike Resnick, is a popular and prolific American science fiction author. He has 5 Hugo Awards and other awards in the USA, France, Japan, Spain, Croatia and Poland. , recent investment of nearly $250,000 has restored the property to its original luster. The loan was originated by ARCS' Calabasas Hills office for a 30 year term/30 year amortization at a rate of 6.35%. * $2,400,000 in financing for the Vintage Page Senior Apartments, a 120-unit senior housing facility in Santa Rosa Santa Rosa, city, Argentina Santa Rosa, city (1991 pop. 80,629), capital of La Pampa prov., central Argentina. It is a modern city and road junction surrounded by a rich agricultural and cattle-raising area. , CA. The loan was originated by ARCS' San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden Office. The loan was for an 8 year term/30 year amortization at a rate of 5.845%. * The closing of a $7,852,000 multifamily 60-unit property in Anaheim, California “Anaheim” redirects here. For Annaheim, see Annaheim, Saskatchewan. Anaheim is a city in Orange County, California, located 28 miles southeast of Los Angeles. . The loan was for a 10 year term/30 year amortization at a rate of 5.7%. * The closing of a $4,110,000 multifamily 54-unit property in Los Angeles, California. The loan was for a 10 year term/30 year amortization at a rate of 5.46%. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion