Fletcher of Largo arranges $8.16 million in financing

John Fletcher of the Largo Group of Companies, arranged $8.16 million in construction financing to develop Mission Hills Senior Community, an independent senior community, that will consist of 112 2-bedroom/1-bathroom units. Each unit will be 1,040 s/f and each building will be two stories with an elevator for second floor access. In addition to the apartments, the project will also include a 6,600 s/f community center with a kitchen, exercise room, meeting area, library and billiard room. The subject includes 35 garages available for rent, as well as 70 storage units. Fletcher secured a 36 month interest only, floating rate loan for the borrower.