Apartment loan arranged over ten-year term.Howard Levine, President/CEO of ARCS Commercial Mortgage Co., announced the closing of $7.852 million in financing for the Chaumont Villas, a 60-unit property in Anaheim, CA. Constructed in 1962, the Chaumont Villas is a garden style apartment complex consisting of 21 buildings on over 4 acres. Common amenities include a swimming pool and wading pool and central courtyard. The loan was originated by ARCS' Calabasas Hills Office. The loan was for a 10 year term/30 year amortization repaid Interest Only for the first 5 years at a rate of 5.7%. ARCS is one of America's leading commercial lenders Whilst nearly all lenders offer loans on a commercial basis the term commercial lender has differed meanings around the world.
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 Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. in selected regions. In 2005, ARCS provided more than $2.4 billion for 289 properties nationwide. |
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