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LOVE FUNDING CLOSES $13.69M IN REFINANCING

EUSTIS, FLA.; SPARTANBURG, S.C.; AND CHARLOTTESVILLE, VA. — St. Louis-based Love Funding has closed $13.69 million in refinancing loans in the Southeast. Robyn Cunningham of Love Funding's St. Louis office closed a $1.96 million loan for the 55-unit Parkview Apartments, located in Eustis, through the U.S. Department of Housing and Urban Development's 233(f) program. The loan allowed the owner, Judy Travis, to consolidate four outstanding loans on the property into one 30-year loan.

William E. Jones, Jr., of Love Funding's New York office closed a $2.43 million loan for the 149-unit Heritage Court Apartments, an apartment complex for seniors and handicapped persons, located in Spartanburg, through the U.S. Department of Housing and Urban Development's 233(a)(7) program. The 26-year loan enabled the property owner to move from a 6.35 percent interest rate to a 3.9 percent fixed rate.

Laura Saull-Smith of Love Funding's Washington, D.C., office closed a $9.3 million loan for the 86-unit Jefferson Heights at Pantops Mountain, a senior housing complex located in Charlottesville, though the Federal Housing Administration's 223(a)(7) program. The new loan will extend the term 40 years for the owner, Osprey/Pantops Place.

Content Partners
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