PNC ARCS PROVIDES $4.33 MILLION LOAN FOR TWO MULTIFAMILY PROPERTIES

TOPEKA, KAN.; AND OMAHA, NEB. — PNC ARCS has provided two loans totaling $4.33 million for the Warren House Apartments Topeka and the Warren House Apartments Omaha. The loans for the two related multifamily properties were based on a 10-year term, with a 30-year amortization schedule at a fixed rate of 5.9 percent. Situated on approximately 7.4 acres, the 160-unit Warren House Topeka houses seven two-story buildings. Amenities at the property include a pool and laundry facilities. Additionally, the Warren House Omaha is a 149-unit garden style complex with nine two-story buildings. Amenities at the Omaha property include a swimming pool, laundry facilities and a parking garage. The loan for both properties was originated by PNC ARCS’ San Francisco office through Fannie Mae.