ARCS closes $9m in financing.Steven Heller, SVP/Eastern Region of ARCS Commercial Mortgage Co., L.P. announced the closing of $9 million in financing for four properties in New York's desirable Upper East Side that have a combined total of 155 units. The loans were originated by ARCS' Princeton office through Fannie Mae's 3MaxExpress which provides all the benefits of Fannie Mae Fannie Mae: see Federal National Mortgage Association. financing with streamlined processes and cost. The loans will be repaid over a 9 year term/15 year amortization at a rate of 4.86%. ARCS is one of America's leading commercial lenders, capable of providing Capital Markets, Fannie Mae, FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). , and 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. as well. In 2004, ARCS provided more than $2 billion for 224 properties nationwide, becoming 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) lender for the 8th time in the past 9 years. The company now services a portfolio valued over $13 billion, representing more than 1,800 loans across 39 states. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion