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Finance
Posted: October 7, 2009
Jones of Love Funding secures $6.5 million financing for 2 props.
Love Funding's New York office secured $6,547,300 in financing for two multifamily housing complexes. Bill Jones, First Vice President with Love Funding's New York office, originated the transactions.
Jones secured a $3,694,600 refinance loan for the Breezy Point Apartments, which consists of 171 apartment units, and he closed a $2,852,700 refinance loan for the 138-unit Rolling Hills Apartments.
Love Funding utilized the HUD 207/223(f) loan program for both deals and was able to lock in a 5.02% fixed interest rate with a 35-year amortization for the borrower for each loan.
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Finance
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