According to PNC ARCS, $5.916 million in financing was secured for the Waverly Farms Apartments, a 116-unit property.
Built in 1982, Waverly Farms Apartments is a garden-style apartment complex on more than five acres.
The loan was for a 10-year term/interest only for the first five years at a rate of 5.87%. The loan was originated by PNC ARCS' San Francisco office through Fannie Mae.