National mortgage-banking firm Love Funding today announced that Artin Anvarof the firm’s Washington D.C. office closed a $10,512,700 non-recourse loan for the refinancing of The Village at West Point, a multifamily housing complex located in Surprise, Ariz. Love Funding was able to secure the funds through an FHA-insured loan. By utilizing the HUD 223(a)(7) loan program, Anvar was able to lock in a 4.83 percent fixed interest rate with a 40-year amortization for the borrower..
The Village at West Point consists of 168 one-, two- and three-bedroom units. The complex is located off North West Point Parkway in Surprise, Ariz., one of the fastest growing cities in the Phoenix metropolitan area, and is surrounded by a variety of shops and restaurants. The Village at West Point provides unmatched luxury with modern convenience and adaptable floor plans for any lifestyle. The location features a state-of-the-art exercise facility, palm-covered spa, and resort-style pool for ultimate relaxation. Additional amenities include a resident coffee bar, a clubhouse, billiards room and business center. Each unit is also equipped with a gourmet chef-style kitchen, lofty 9-foot ceilings and a private balcony or patio.
“We want to reiterate our appreciation for Artin’s and Love Funding’s assistance with the refinance on West Point,” said Devan Wastchak, Managing Partner of VIVO Partners, owner of Village at West Point. “We were impressed with the LFC team’s efficiency and professionalism, and look forward to working with Love Funding again in the future.”