HIRAM, GA-A $12.3 million federal loan from Arbor Commercial Mortgage of Uniondale, NY to owner Magnolia Commons is helping with the construction of 192-unit Magnolia Commons Apartments. Atlanta-based TRS Construction is the developer.
The 6.99% interest loan structure provides for a construction period of 16 months and a 40-year, fully amortizing permanent loan. Magnolia Commons LP owns the property. Atlanta-based TRS Construction is the developer.
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