The 23-year-old Arbor Square Apartments at 1700 Southwest Parkway underwent an extensive renovation in 1998, when it was acquired by the borrower, Anna Fergugon, PW Funding Inc.'s director of marketing and advertising tells GlobeSt.com. The complex, situated on about 7.7 acres, features one- and two-bedroom units in 13 two-story buildings. The complex's amenities include an outdoor poor, Jacuzzi and centers for fitness and business.
New York City-based PW Funding., a subsidiary of Charter Municipal Mortgage Acceptance Co., provided the financing for the student housing complex. Richard A. Olrich in PW Funding's San Francisco office, was the loan originator. The long-term loan was funded under FannieMae's DUS program. It carried a 6.855% interest rate and LTV of 75%.
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