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Sources Of Financing
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Sources Of Financing L.J. Melody & Co. (215-561-8938) arranged financing of $4.56 million for retail buildings located at 920-934 Market Street and 919-923 Ludlow Street in Philadelphia, PA. The properties contain approximately 32,928 sq.ft. leased under long-term agreements to Footlocker, Blue Cross and H&R Block. The five-year permanent loan was secured at an interest rate of 6.41% with an amortization of 25 years.
GMAC Commercial Mortgage Corp. (215-328-3383) provided $8 million in fixed-rate financing for Duval Station Shopping Center, a 72,840 sq.ft. center located at Duval Station Road in Jacksonville, FL. The center is situated on a land area of 6.8 acres.
Robert Faust Mortgage Co. (214-691-1545) arranged a $9.2 million residential acquisition and development loan for Pioneer Crossing East, a center located near Parmer Lane in Austin, TX. The company also arranged $1.2 million for raw land on 113 acres of the development for the same owner. |