BNP Residential Properties Announces Refinance of Chason Ridge Apartments.CHARLOTTE, N.C. -- BNP BNP B-type natriuretic peptide, brain natriuretic peptide Physiology A 32-residue peptide hormone produced predominantly in the ventricles, secreted in response to fluid overload–eg, CHF. See Atrial natriuretic peptide. Residential Properties, Inc. (AMEX AMEX See: American Stock Exchange : BNP) announces the refinance of Chason Ridge Apartments in Fayetteville, North Carolina Fayetteville is a city located in Cumberland County, North Carolina. As of the 2000 census, the city had a total population of 121,015. It is the county seat of Cumberland County GR6, and is best known as the home of Fort Bragg, a U.S. through a $15.5 million deed of trust A document that embodies the agreement between a lender and a borrower to transfer an interest in the borrower's land to a neutral third party, a trustee, to secure the payment of a debt by the borrower. loan from Column Financial, Inc. The loan has a term of ten years and bears interest at a fixed rate of 5.21%, with interest only payable during the first three years. The property was previously subject to a $11.5 million deed of trust loan with a floating interest rate of 30-day LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). plus 1.75%. Company Overview: BNP Residential Properties, Inc. is a real estate investment trust focused on owning and operating apartment communities. We own and operate 33 apartment communities containing a total of 8,384 apartments, including three communities containing 713 units for which we are the general partner. In addition to the apartment properties, the Company owns 40 restaurant properties that are leased on a triple-net basis to a restaurant operator. The Company currently operates in the states of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , South Carolina and Virginia. BNP Residential Properties, Inc. is structured as an UPREIT or umbrella partnership real estate investment trust. The Company is the sole general partner and owns a controlling interest in BNP Residential Properties Limited Partnership, the operating partnership. All of the Company's operations are conducted through the operating partnership. More information may be obtained by calling the company's Corporate Offices at (704) 944-0100 or on the Internet through the company website at www.bnp-residential.com. Information requests may be e-mailed to the investor relations department at investor.relations@bnp-residential.com. |
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