Communities refinanced include the 200-unit Pleasant Ridge in Little Rock, AR for approximately $5.7 million; the 420-unit Oak Run in Dallas for $8.5 million; the 204-unit Oak Forrest in Arlington, TX for approximately $2.6 million; the 292-unit Landmark in Raleigh, NC for $7 million; the 240-unit Bent Tree I and 96-unit Bent Tree III, both in Indianapolis, for $4 million and approximately $3 million, respectively.
GMACCM senior vice president Robert D. Falese of the Philadelphia office arranged the transaction through GMACCM's proprietary lending group. Aimco received the funding. Falese notes GMACCM has a "solid, long-term relationship with Aimco."
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