MONTICELLO, FL-Love Funding's Washington, DC office has closed an acquisition loan worth $2.21 million for Jefferson Arms Apartments situated in Monticello. Jefferson Arms, designated as 100% Section 8 multi-housing complex, features 75 one- and two-bedroom units.
The first vice president of the Washington, DC office, Holly Bray was originally involved in the transaction, who secured financing for the property via the FHA 223(f) loan program with 4.5% fixed interest for 30 years. It also included a provision for renovation of the property. For the full story, go to Florida Real Estate Journal.
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