PNC ARCS ARRANGES $7.28 MILLION MULTIFAMILY LOAN

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BEDFORD, TEXAS — The Dallas office of PNC ARCS has arranges a $7.28 million loan for Copper Hill Apartments, a 204-unit multifamily community located in Bedford. Situated on more than 8 acres, the property features a swimming pool, a spa, a fitness center, a clubhouse, a racquetball court, laundry facilities and covered parking. Terms of the financing include a 6.22 percent fixed interest rate, a 10-year term with a 30-year amortization schedule and interest-only payments for the first 5 years. The lender was Fannie Mae; the borrower was undisclosed.

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