Love Funding Closes $18.2 Million Refinancing for Four J Apartments in Pulaski County, Missouri

||Love Funding Closes $18.2 Million Refinancing for Four J Apartments in Pulaski County, Missouri

Four J Apartments - Harry CheathamLove Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of an $18.2 million refinancing for Four J Apartments, a market-rate apartment community in Waynesville, Missouri.
 
Love Funding Senior Director Harry Cheatham of the St. Louis office secured the financing through the U.S. Department of Housing and Urban Development’s 223(f) loan program. The program allowed the borrower to consolidate 12 loans into a fixed, low-rate, non-recourse loan with a 35-year term, generating significant debt service savings.
 
The subject property, which is located in unincorporated Pulaski County immediately south of Waynesville, was developed from January 2003 to June 2010 by Jerry Laughlin and his three sons through Four J Land and Cattle Co. The company was founded in 1985 and has extensive experience in construction, developments and rental property management.

“Love Funding worked hard on our behalf and took us through the HUD process,” Laughlin said. “Our scattered site refinancing had various complexities and HUD had concerns that we needed to overcome. Love Funding used its team of specialists to assess and address risks and put HUD at ease. They did a terrific job with problem solving and we are very pleased with the outcome.”
 
The project’s 232 units are located in four “villages” containing sixty-four buildings of various types, including townhomes and garden-style apartments.  The Four J Apartments are among the highest quality and occupancy in Pulaski County, which is home to Fort Leonard Wood military training base.
 
For more information, contact Harry Cheatham.

2012-12-10T17:53:34+00:00 Love Funding News|