Printer Friendly

Love Funding announced that its New York office secured $1,925,100 in financing for two multifamily housing complexes in Tennessee.

Love Funding announced that its New York office secured $1,925,100 in financing for two multifamily housing complexes in Tennessee. Bill Jones, first vice president with the national mortgage-banking firm's New York office, originated the transactions.

* Jones secured a $1,077,200 refinance loan for the 50-unit Parkview Manor Apartments, located in Union City, Tenn.

* He also closed an $847,900 refinance loan for the Tyson Park Apartments, a 40-unit multifamily housing complex located in Paris, Tenn. The second loan was used by the borrower, ALCO Management, to pay off tax-exempt bonds on the Tyson Park property.

Love Funding utilized HUD's 207/223(f) loan program for both deals and was able to lock in a 4.81% fixed interest rate with a 35-year amortization for each loan. These transactions bring the total amount Love Funding has secured for ALCO to more than $56 million.
COPYRIGHT 2009 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:FINANCE
Comment:Love Funding announced that its New York office secured $1,925,100 in financing for two multifamily housing complexes in Tennessee.(FINANCE)
Publication:Real Estate Weekly
Date:Dec 23, 2009
Words:146
Previous Article:Jeanne Cronin, managing director of Q10 / New York Realty Advisors, LLC, announced the closing of a $1,335,000 acquisition loan secured by a first...
Next Article:Capstone backs a sure thing with AC hotel.
Topics:


Related Articles
Multifamily money.
Arbor National Commercial Mortgage.
Real Estate: Finance.
Real estate. (Finance).
PWF takes advantage of Fannie Mae.
Meridian Capital Group.
Sterling American Property Inc.
Creative efforts secure $50m.
Deerwood tackling challenges head on with $43m in finance transactions.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters