MIAMI-National Residential Properties Inc. is expected to get nearly $4 million in construction financing from the First Housing Development Corp. for the Conquistador Plaza, a 60-unit apartment building planned for southwest Miami.
The 7 7/8% interest loan will be insured by the U.S. Department of Housing and Urban Development. The project's projected appraised value is $7 million. NRPI has also developed property in Vero Beach, FL and Bay Harbor Island, FL.
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