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$5.3M arranged in Tucson.

AFC Realty Capital has arranged $5.44 million in permanent first-mortgage financing for Springhill Apartments, a 224-unit apartment complex at 8030 East Lakeside Parkway in Tucson, Arizona.

The apartment complex is owned by an affiliate of The Schomac Group, Inc. Schomac has developed more than 4,000 apartment units and 800,000 square feet of retail, office and medical facilities in Tucson and Las Vegas.

The Springhill refinancing is one of three such Schomac properties financed through AFC in Tucson, and one of six in Arizona for AFC in the past year.

Completed in 1987, Springhill Apartments contains one- and -two-bedroom apartments in 12 two- and three-story split-level buildings. Amenities include a large swimming pool and spa, gas barbecues, and a clubhouse.
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Title Annotation:$5 million permanent first-mortgage financing arranged by AFC Realty Capital for apartment complex at 8030 East Lakeside Parkway, Tucson, Arizona
Publication:Real Estate Weekly
Date:May 26, 1993
Words:122
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