Real Estate/Development
Nov. 2, 1999
Apartments get $44 million
GMAC Commercial Mortgage provided $44 million in construction and permanent financing to Playa Phase I Apartments LLC for the Fountain Park Apartments on Lincoln and Jefferson boulevards in Playa Vista.
GMAC Commercial Mortgage provided $44 million in construction and permanent financing to Playa Phase I Apartments LLC for the Fountain Park Apartments on Lincoln and Jefferson boulevards in Playa Vista.
The blend of tax-exempt and taxable floating rate bonds were credit enhanced by Fannie Mae and underwritten at 6.6 percent. The actual floating rate payable is plus or minus 4 percent. The bonds were also structured with a direct-pay feature. Amortization is 30 years with a ...
The blend of tax-exempt and taxable floating rate bonds were credit enhanced by Fannie Mae and underwritten at 6.6 percent. The actual floating rate payable is plus or minus 4 percent. The bonds were also structured with a direct-pay feature. Amortization is 30 years with a ...
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