Senne secured a $7.7 million loan on the property from Park Ridge Community Bank. In order to bring the development in line with the city’s Affordable Requirements Ordinance, Senne also built a small.
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The recreation and community center, which would replace a small building in Olsen Park. former Hess Corp. tank farm on.
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These government-backed loans also referred to as "small balance loans" or simply "multifamily loans.". However, the FHA 223(f) apartment loan can finance up to 87% of a property’s LTV, meaning that the down payment would only be 13% or more of the purchase price plus closing costs.
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Provided by the highest ranking apartment loan provider in the US–Commercial Loan Direct.. wholesale or conventional multifamily mortgages, these loans are funded by a bank or other institutionalized lender which does not securitize or sell their loans into capital markets.. small balance.