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BIRMINGHAM, AL-Collateral Mortgage Capital LLC has funded Lion’s Gate Apartments in Mauldin, SC. The $3.76 million loan was closed with Freddie Mac through the Program Plus product line. The ten-year loan carries a fixed interest rate of 6.31 percent. It amortizes on a 30-year schedule. Collateral underwrote the loan with an 80% loan to value.

Lion’s Gate Apartments is a 144-unit garden-style community on a little more than 10 acres. The complex features ten two-story apartment buildings. The total rentable area of the property is 109,312 sf, indicating an average unit size of 759 sf.

Collateral Mortgage Capital, LLC, a privately owned commercial mortgage banking firm, is the product of the recent merger of the commercial units of Collateral Mortgage, Ltd. and Kansas City-based Charter American Mortgage Company.

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