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Posted: November 28, 2008
PNC ARCS closes $5.252 million for 61-unit apt.
PNC ARCS closed a $5.252 million for the West Addison Apartments. Built in 1925, the property is a mid-rise apartment complex consisting of 61 residential units plus 1,921 s/f of ground floor retail space. The loan was for a ten-year term/30-year amortization with five years of interest-only at a rate of 5.98%. The loan was originated by PNC ARCS' Dallas office through Fannie Mae.
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