Financing closed for CA apartment complex.

Howard Levine, president/CEO of ARCS Commercial Mortgage Co., announced the closing of $5,000,000 in financing for the Westwood Apartments, a 90-unit property in Fresno, CA.

Built in 1972, Westwood Apartments is a garden style apartment complex on more than 6 acres. Common amenities include a laundry/maintenance building and one leasing office/recreation/laundry room building that add 2,516 non-rentable square feet to the complex for a total of 84,596 square feet. Additional amenities include two swimming pools, one spa and two laundry rooms containing washers and dryers.

The loan was originated by ARCS' San Francisco Office. The loan was for a 10 year term/30 year amortization at a rate of 5.82%. The loan will be repaid Interest Only for the first 2 years.

ARCS is one of America's leading commercial lenders, capable of providing Fannie Mae, Capital Markets, mezz & bridge financing, and even Freddie Mac in selected regions. In 2005, ARCS provided more than $2.4 billion for 289 properties nationwide, making us the #1 DUS lender once again. The company now services a portfolio valued at nearly $13 billion, representing almost 1,800 loans across 39 states.

ARCS is headquartered in Calabasas Hills, CA and has 10 branch locations including Princeton, New Jersey.