The deal is a sweet one for the borrowers, as Simmons Vedder's good history with Corus Bank allowed the loan to go forward without condo presales being in place. "We have complete confidence that the company can manage both the land development and building construction," says Corus Bank first vice president Dwight Frankfather. "We have established a good working relationship with the lender for the land work. This will be a great addition to the suburban Virginia condominium market."
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