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Article: Prudential Mortgage Capital Originates $16.8 Million Mortgage Loan for DM Associates, L.L.C.
- Article from:
- Business Wire
- Article date:
- July 5, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
DETROIT--(BUSINESS WIRE)--July 5, 2001
Prudential Mortgage Capital Company, a business of The Prudential Insurance Company of America, announced today that it recently originated a $16.8 million commercial mortgage loan for its conduit to DM Associates, L.L.C.
The refinancing closed on May 8, 2001 under Prudential Mortgage Capital's conduit program. The 10-year term loan has a 30-year amortization schedule and an interest rate of 7.54 percent.
The loan is secured by Village Plaza, a 272,000-square-foot office building in Dearborn, Mich. The building was constructed in 1968 and is currently 89 percent occupied with half ...