NRPF,
Inc. has arranged for land development,
construction, and permanent financing for
approximately 2,000 apartment, co-op and condominium units,
located in Long Island, Florida and Pennsylvania.
These include Rentals, Senior Apartments, Condominiums, Townhomes, and Co-operative Apartment Buildings.
One of the properties was a three-phased seniors apartment
project located in Islip, for which NRPF arranged permanent mortgage loans with
three different lending institutions in order to achieve
optimum rate and loan terms for each development phase.
Construction financing was provided by a major Long Island
savings bank with which we have a strong, long-term
business relationship. We recommend that our clients have a
diversity of lenders so as not to create a dependency on any
one source of funds.
|
Long Island Apartment Complexes
Total Loan Amount:
$7,300,000
Loan Type:
Construction and Permanent Loan
Terms: 10 year fixed rate loan
Lender: Bank and Insurance Company
Comments:
200 Two-story garden
apartments restricted to tenants 55 years and older.
This complex was built in three phases as additional
property was acquired.
NRPF first placed the construction loans and once
construction and leasing was completed, permanent
financing was arranged.
|
 163
Two-story garden apartments restricted to
tenants 55 years and older.
Total Loan
Amount: $10,000,000
Loan Type:
Construction and Permanent Loan
Terms: 10 year fixed rate loan
Lender: Bank and Insurance Company
Comments: Construction loan funded prior to
final approvals. Permanent loan funded at
80% breakeven.
|
|
2 - Five story, 90 unit Bronx, NY
Affordable housing apartments
Total Loan: $9,800,000
Loan Type: Construction
Loan
Lender:
Bank
|
36 Two-story
multi-family garden apartments
Total Loan: $1,400,000
Loan Type: Permanent Loan
Terms: 10 year fixed rate loan
Lender: Bank
|
56 Two-story
garden apartments
restricted to tenants 55 years and older.
Total Loan: $3,135,000
Loan Type: Construction and Permanent
Loan
Terms: Fixed Rate for 10 years
Lender: Bank |
53
Two-story garden apartments restricted
to tenants 55 years and older
Total Loan Amount: $2,600,000
Loan Type: Permanent Loan
Terms: 10 year fixed rate loan
Lender: Bank
|
68 Two-story
garden apartments restricted to tenants 55 years
and older.
Total Loan: $4,000,000
Loan Type: Construction and Permanent Loan
Terms: 10 year fixed rate loan
Lender: Bank |
|
16 Two-story
multi-family garden apartments.
Total Loan: $3,135,000
Loan Type: Permanent Loan
Terms: 10 year fixed rate loan
Lender: Bank
Comments:
Refinance of older units
|
721 Two-story
multi-family garden apartments located in
Central Florida
Total Loan:
$33,000,000
Loan Type:
Permanent Loan
Terms: 10 year 7-day commercial paper
Lender: 2 Bonds
Comments: Loan was for the acquisition of
$35,000,000 for the properties. Structure
included replacement of Credit Enhancement and
the unwinding of an interest rate swap
agreement. |
320 two-story multi-family garden
apartments located in South Florida
Total Loan: $20,000,000
Loan Type:
Construction Loan
Terms:
Floating Rate
Lender: Bank
|
|
Florida Nassau
County Garden Apartments
296 Two-Story multi-family garden apartments
in Nassau county
Total Loan: $13,250,000
Loan Type: Permanent Loan
Terms: 7-year fixed rate loan
Lender: Institutional Investor |
|
Residential and Multi-Family Complexes
NRPF
arranged land development and construction
financing using a Long Island savings bank for a
seniors townhouse project in Suffolk County.
NRPF
also arranged development financing for a
70-unit condominium project also in Suffolk
County. |
|
