PNC ARCS PROVIDES $9.3 MILLION MULTIFAMILY LOAN

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SAN JOSE, CALIF. — PNC ARCS, a PNC Real Estate Finance company, has provided a $9.3 million supplemental loan for Central Park Apartments in San Jose. Built in 1971, the 186-unit property features covered parking, six central laundry facilities, an outdoor pool and a fitness center. The loan was for a 9.25-year term/interest-only for 9 years at a rate of 6.78 percent. The loan was originated by PNC ARCS’ San Francisco office though Fannie Mae.

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