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ELKTON, MD. — MHTJ Enterprises has borrowed a $9.62 million loan to refinance its 156-unit Apartments at Iron Ridge, located on Iron Hill Road in Elkton. The property encompasses 16 two-story buildings and features a tennis court, a swimming pool and a weight room. The 10-year, non-recourse loan carries a 30-year amortization and was arranged using FNMA financing. Laura Saull-Smith of Love Funding’s Washington, D.C., office secured the loan.