2004 Transactions
Tremont Arranges $1,173,000
FHA Loan for Sugar River Mill Apartments
The
Boston office of Tremont Realty Capital, arranged an FHA
loan for the refinancing of Sugar River Mill Apartments
in Claremont, NH. The property is comprised of 162 units
in 10 buildings.
David Ross, a Managing Director, and Dan Mee,
Executive Director, arranged the non-recourse, $1,173,000
FHA (HUD) loan through a HUD-approved FHA loan originator.
The loan carried a fixed interest rate of 5.75% for a 24-year
fully-amortizing loan term. The property was originally
built in 1982 and is operated as age-restricted, senior
housing. The loan was closed under the FHA 223 A7 program,
which allows a restructured refinance of HUD loans in situations
where affordable housing reimbursements have been reduced
as part of a mark-to-market adjustment.
For additional information on this transaction,
please contact:
David Ross
Managing Director
Email: dross@tremontcapital.com
Phone: 617.867.0700 x773
Daniel Mee
Executive Director
Email: dmee@tremontcapital.com
Phone: 617.867.0700 x777
