L.J. Melody provided the funding on behalf of Hudson Ideal Cos.,a family owned business based in Boulder. Hudson Ideal manages andowns 3,500 units. Freddie Mac subsequently purchased the loan.
Eric Tupler and Jim Cobb of L.J. Melody's Denver office securedthe funding. The loan represents 72% of cost with a loan term ofseven years and a 30-year amortization schedule. The loan carries afixed rate of 5.28%.
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