Morrisville Associates received $9.2 million fixed-ratepermanent financingwith a 25-year amortization for the CrabtreeCrossing Townhomes. The complexcontains 208 units and a total of230,373 sf situated on 21.46 acres. PPMFinance Inc. served as thecorrespondent in this transaction.
In the second transaction, Airport F.I. received $5.8 millionfixed-rate financing with a 25-year amortization for the FairfieldInn. The five-story hotel contains112 units and is located on a2.17-acre lot. Built in 1998, the hotel has anaverage occupancyrate of 72%. GMACCM's Washington, D.C. HospitalityDivision arrangedthe transaction.
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