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Sunday, June 14, 2009

Love Funding secures $47.2M loan for Multifamily Project

Palm Beach Office Building

PALM BEACH - The Palm Beach office of Love Funding closed a new construction/permanent loan, for $47,212,900. The loan is for the Village at Secret Lake, which is a planned 432-unit multifamily housing complex. The project is in Kissimmee, Florida.
Carolyn Whatley, first vice president and senior loan originator with the company’s Palm Beach office, originated this transaction, from sunny Florida. Love Funding is a national full-service, commercial mortgage-banking firm. Love Funding commenced mortgage-banking operations in 1984.
Village at Secret Lake is planned for 12 separate, four-story buildings which will have elevators. It will also feature a conservation area, pond, putting green, small tot lot and an oversized resort-style pool.
Love Funding was able to secure funding, for the construction of this proposed development, through an FHA-insured loan.
Commercial Real Estate in Florida has some interesting Investment opportunities.

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