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EDINBURG, TEXAS — New Jersey-based Cronheim Mortgage has arranged an $18.3 million construction loan for Las Vilitas, a 200-unit multifamily project that will be located in the Rio Grande Valley city of Edinburg. An undisclosed regional bank provided the loan, which was structured with three years of interest-only payments followed by a 12-year term. The sponsor is locally based developer Verturo Interests. David Poncia led the transaction for Cronheim Mortgage.