ARCS Commercial Mortgage Co., L.P.Howard J. Levine, president/CEO of ARCS Commercial Mortgage Co., L.P., has announced the closing of a $2.27 million loan for the Montefiore Medical Office Building in The Bronx, NY. The loan, for five years fully amortizing, was at a rate of 7.25 percent. The loan-to-value was 39.47 percent. The property, built in 1993, is single-tenant, five-story medical office building. It is 100 percent leased by Montefiore Medical Center Montefiore Medical Center, in the Bronx, New York, is the university hospital of the Albert Einstein College of Medicine. The hospital, named after Moses Montefiore, is one of the 50 largest employers in New York State [1]. through the year 2003, coinciding within a few months of the loan maturity date. ARCS' Capital Markets Division financed the property through its relationship with NationsBank. The tenant is investment grade. Additionally, due to the loan being single-tenant on a triple net lease, ARCS was able to waive reserves, taxes and insurance escrow. ARCS is the #1 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) multi-family loan originator in America, and their largest loan servicer  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. as well. Including DUS, the company currently services a portfolio of $3 billion in 34 states across the country. ARCS is also America's fifth largest Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. Program Plus lender, a correspondent for NationsBank and has strong ties to major Wall Street houses. |
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