Apartment Complex Gets $51 Mil Mortgage Financing

ALEXANDRIA, VA-Aimco Riverside gets a 20-year deal at 7.64% on 1,222-unit apartment complex through Reilly Mortgage Group.

By Mike Cleary | Updated on September 07, 2000

Reilly Mortgage Group arranged a $51-million financing package for a 1,222-unit apartment complex here. Aimco Riverside Park LLC received the financing for Riverside Park, which consists of three 16-story buildings. Terms of the 20-year deal include a 7.64% interest rate and a 20-year amortization. Some of the proceeds will be used to fund more than $3.5 million in renovations.

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