ARCS apartments loan.Larry Sneathern, SVP/Central Region of ARCS Commercial Mortgage Co., L.P. announced the closing of $8.426 million in financing for the Woodland Hills Apartments, a 250-unit property in Irving, TX. Constructed in 1982, Woodland Hills is a garden style apartment complex on 9 acres, consisting of 24 two-story buildings. The loan was originated by ARCS' Dallas Office. The loan was for a 10 year term and will be repaid at a rate of 5.91% Interest Only for the first five years then begin 30 year amortization. ARCS is one of America's leading commercial lenders, capable of providing Fannie Mae Fannie Mae: see Federal National Mortgage Association. , Capital Markets, FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). , mezz & bridge financing Bridge Financing A method of financing, used by companies before their IPO, to obtain necessary cash for the maintenance of operations. Notes: These funds are usually supplied by the investment bank underwriting the new issue. , and even Freddie Mac in selected regions. In 2005, ARCS provided more than $2.4 billion for 289 properties nationwide. ARCS has also been Fannie Mae's #1 DUS DUS Driving Under Suspension (criminal charge) DUS Dwelling Unit (real estate) DUS Dynamic Underground Stripping DUS Dusseldorf, Germany - Dusseldorf (Airport Code) 9 of the last 10 years. |
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