But Todd F. Cohen, vice president of Primary Capital's local office, gauged recent bond market swings and was able to lock in under-6% loan interest rates for two clients on separate multifamily investment contracts aggregately valued at $11.4 million. The acquisition loans totaled $8.9 million.

For Allen Perri Properties LLC and Perri Allen Properties LLC, Cohen locked in a 5.9% interest rate on an 80% loan-to-value financing from Fannie Mae on the $4-million purchase of the 11-year-old, 95%-occupied Stone Cove I and II apartments in St. Augustine, FL. SE Residential East LLC sold the 86-unit property, one mile from the ocean, for $46,512 per unit. The loan carries a 30-year amortization. Buyer and seller are from New York.

In Largo, on the Gulf of Mexico in west Central Florida, Cohen worked out a 5.9% interest rate with a private lender for Amistef Largo LLC of the Tampa Bay area which paid Cincinatti-based Ambassador of Largo LLC $7.4 million, or $68,055 per unit, for the 108-unit, 17-year-old, 95%-leased Whispering Pines apartment community.

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