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SANFORD, FL-Cobblestone Crossing, a 39-building, 294-unit apartment community, 20 miles north of Downtown Orlando, has received $22.4 million in permanent financing from Green Park Financial of Bethesda, MD.

The seven-year loan allows the borrower, Philadelphia-based PLM Associates Ltd., to pay interest only on two years of the loan which has an interest rate of 4.87%. Joseph Topley of Carey, Kramer & Associates Inc. originated the loan.

Green Park Financial has provided over $7 billion in financing for multifamily projects nationally since 1988. The company is a joint venture between its managing general partner, Walker & Dunlop, and AIG SunAmerica.

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