Aaron Klein with McKinley says the senior housing property loanwas for 10 years, with a fixed rate and the first year as interestonly, followed by a 30-year amortization schedule. The loan was fora refinance of the property, he says. "It's an existing property,built in phases in the past 10 years," Klein tells GlobeSt.com.
Klein also arranged a $1 million loan for a 10,800-sf mixed useproperty in Ypsilanti Township, for a 10-year loan with the firstyear as interest only, with a 30-year amortization schedule. Thethird loan was for a borrower of a 12,869-sf executive office suiteproperty outside Atlanta, for $1.8 million. The loan has aseven-year, fixed-rate term and a 30-year amortizationschedule.
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