By Anuradha Kher, Online News EditorPlano, Texas–Walker & Dunlop provided a $7,400,000 refinance loan for Lockwood Avenue Apartments located in Los Angeles. The loan was structured with a five-year term and a 30-year amortization. The loan was underwritten to a 74 percent loan-to-value with a 1.28x debt-service coverage ratio. Lockwood Avenue Apartments features two three-story buildings, totaling 72 units, constructed in 1966. The property was 97 percent leased at closing. Arbor Closes $2,239,700 Fannie Mae DUS Loan Riverside, Mo.–Arbor Commercial Funding recently completed funding of a $2,239,700 loan under the Fannie Mae DUS product line for the 116-unit complex known as Riverside Townhomes Coop in Riverside, Mo.The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.23 percent.
TODAY’S DEALS: Walker & Dunlop Closes Over $7M Refinance Loan for 72-Unit Apartment Community, and Other Transactions
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