Multi-Family – 56 Units

Type: Purchase
Location: Clearwater, FL
Loan Amount: $2,500,000
Amortization: 5/1 ARM – 30 Years
Rate: 6.56%
LTV: 80% LTV Purchase (5% Seller 2nd)

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AIM Funding Group, LLC and LaSalle Bank Provides $2,500,000 Loan for the acquisition of a 56 unit Apartment Building located in Clearwater, FL.

Clearwater, FL – December 2005

Multifamily Loan Summary:

AIM Funding Group, LLC closed a $2,500,000 loan in Clearwater, FL for the acquisition of a 56 unit Apartment Building in December of 2005. The loan has an initial 5-year fixed rate, and is fully amortizing over 30 years. AIM Funding Group originated the loan in conjunction with one of its correspondent lenders, LaSalle Bank.

Mark Moyano of AIM Funding Group was the loan originator for the transaction. AIM Funding successfully negotiated the allowance of a 5% seller held second with the lender. This transaction was the only transaction that LaSalle Bank allowed a seller held 2^nd mortgage.

About AIM Funding Group:

AIM Funding Group is a premier provider of multifamily and commercial loan financing for commercial real estate investors. AIM Funding Group brings an extensive network of lending sources, structured finance experience with a focus on multifamily properties throughout the country. AIM Funding Groups office is located in Coral Springs, FL. Company information can be found at www.aimfundinggroup.com.

 

Property Photos

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