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PNC ARCS ARRANGES $13.98 MILLION MULTIFAMILY LOAN

HARRISBURG, PA. — The Princeton, N.J., office of PNC ARCS has arranged $13.98 million loan for Terraces at Springford Apartments, a 192-unit multifamily community located in Harrisburg. The garden-style apartment community is part of Heatherfield Community, the largest planned residential community in Pennsylvania. Terraces at Springford shares community amenities with nearby single-family and townhome residences, including a playground, several pools, a clubhouse, and basketball, volleyball and tennis courts. The loan carries a 10-year term, a 30-year amortization schedule and a 6.32 percent fixed interest rate. It was originated by PNC ARCS through Fannie Mae. The borrower was undisclosed.

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