Commercial real estate lenders continue to bank on Rochester s strengths rbj.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rbj.net Daily Mail and Mail on Sunday newspapers.
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NEW YORK, May 6, 2021 /PRNewswire/ Lument recently provided a $15.2 million Fannie Mae conventional multifamily loan for a 176-unit, garden-style multifamily community in Columbia, South Carolina. The property is owned and managed by an experienced sponsor with a multifamily portfolio of approximately 1,121 units throughout the Southeast. Steven Cox, senior managing director in Lument s New York office, led the transaction. As usual, Fannie Mae proved to be an extremely beneficial financial solution, said Cox. Not only does the successful closing refinance existing debt at a low, fixed rate, it does so with a full term interest only period while also providing substantial cash-out proceeds to the sponsor.