PNC ARCS CLOSES TWO MULTIFAMILY LOANS

by admin

SACRAMENTO, CALIF. — PNC ARCS has closed a $5.82 million loan for Ridgestone Apartments and Granite Springs Apartments in Sacramento. Offering 160 units, the properties features laundry rooms, children’s play areas and secured entry. The loan features a 6-year term with 30-year amortization at a fixed rate of 6.315 percent. The Calabasas Hills, Calif., office of PNC ARCS originated the loan through Fannie Mae.

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