Capmark Finance Inc, Horsham, PA, announced in October that it originated $65 million in 10-year, fixed-rate, permanent debt through its Fannie Mae Delegated Underwriting and Servicing program for the acquisition of The Saulet, a 703-unit multifamily property in New Orleans. The Saulet, a class-A apartment development, is located on 13 acres at 1420 Annunciation Street, just minutes from the central business district, the University (Tulane and Loyola Universities) and Medical districts and the French Quarter. The property is comprised of 11 three- and four-story buildings with one-, two- and three-bedroom apartments.
Capmark finances $65 million for New Orleans apartments Anonymous Mortgage Banking; Dec 2008; 69, 3; Docstoc pg. 104 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
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