The financing carries a 6.83% interest rate and a 10-year term with interest-only payments for the first two years, and a 30-year amortization schedule thereafter. The loan structure was designed to allow the cooperative to finish several major capital improvement projects without increasing maintenance payments for at least two years.
PW Funding is headquartered in Mineola, NY. The financing was completed through the firm's New Jersey office, located in Bernardsville.
NOT FOR REPRINT
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.