ST. LOUIS, Dec. 30, 2020 /PRNewswire/ -- Gershman Investment Corp. originated a $25.3 million HUD 223(a)(7) loan for Parkway Lakeside Apartments, a 232-unit apartment community located in O'Fallon, IL. Built in 2011, Parkway Lakeside features Class A amenities including a saltwater swimming pool, clubhouse, fitness center, business center, dog park, playground, BBQ and picnic areas. With the 223(a)(7) refinance, the borrower took advantage of the low-rate environment, dropping their interest rate to 2.20% and reducing their rate of Mortgage Insurance Premium ("MIP") to 0.25%.
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December 31, 2020 at 05:40AM
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Gershman Investment Corp. originated a $25.3 million HUD 223(a)(7) loan for Parkway Lakeside Apartments - PRNewswire
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