"We had the existing loans with them on floating debt," Huntsmantells GlobeSt.com. "We converted them to a fixed-rate loan and theytook some cash out."
The properties are located in Sunnyvale, Foster City, Pacifica,Santa Clara, Santa Rosa, Belmont, Fremont and Pleasanton. They havea combined 1,666 units and range in size from 29 to 248 units.
The Fannie Mae DUS loans were interest-only and had 10-yearterms. Most of the loans had an interest rate of 5.49%.
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