TODAY’S DEALS: Alliant Capital Closes $8.19M Apartment Loan, and Other Transactions

By Anuradha Kher, Online News EditorIrving, Texas–Alliant Capital recently closed an $8,193,500 loan for the refinance of the Reflections at Valley Ranch Apartments in Irving, Texas. The 212-unit garden-style apartment community was built in 1986 and features 13, two-story residential buildings. Alliant’s loan has a 10-year term with a 30-year amortization.Meridian Capital Arranges over $5M in Permanent Financing for 51-Unit PropertyPleasanton, Calif.–Meridian Capital Group recently arranged permanent financing for Culver City-based E&S Ring Management Corp. in the amount of $5,236,000 for a 51-unit, recently renovated, multifamily property.Managing Director Alex J. Katz of Meridian’s Los Angeles office negotiated on behalf of the borrower to secure a 5.91 percent fixed interest rate for 10-year interest only period with a one-year extension option.   “We couldn’t have timed this rate lock any better. Our client was pleased with the comparatively low spread we were able to negotiate through Freddie Mac,” says Katz.Arbor Closes over $4M in Fannie Mae DUS Loan Indianapolis–Arbor Commercial Funding LLC recently completed funding of a $4,500,000 loan under the Fannie Mae DUS product line to refinance the 342-unit complex known as Harvard Square Cooperative located in Indianapolis.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.34 percent.“The members of this cooperative desired a new loan to provide funds for major capital improvements to their property,” says Michael Jehle, director in Arbor’s Bloomsfield Hills, Mich. office. “Arbor was able to meet their objectives with the loan size they were seeking and with a very attractive fixed interest rate.”