$26,527,00 Permanent loan for a 260-unit luxury apartment property in downtown Little Rock, AR. 35 Years fixed
Winter & Company arranged a $26,527,000 permanent mortgage for a recently-developed 260-unit, 453,000 square-foot luxury apartment development overlooking the riverfront in Little Rock, Arkansas.
The experienced, Houston-based developer was satisfied with both the high level of loan proceeds, (approaching 85% loan-to-value), as well as the 35-year fixed rate. The unusually long term, fully self-liquidating loan structure is what really set this assignment apart from the norm. The purpose of the loan was to replace the construction financing with long-term, self-liquidating debt.