News: Financial Digest
Posted: January 7, 2009
PNC ARCS provides $8.573 million loan for River's Edge Apartments
PNC ARCS, a PNC Real Estate Finance company, arranged a loan in the amount of $8.573 million for the River's Edge Apartments, a 156-unit property.
Built in 1974, River's Edge Apartments is a gated, Tudor style apartment community.
Common amenities include secured entry with intercom, laundry rooms, swimming pool with a cabana area and secured storage.
The loan was for a 10 year term/2 years interest only at a fixed rate of 6.5 %. The loan was originated by PNC ARCS' Princeton office through Fannie Mae.
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