ACI Closes $26,040,000 Construction Financing for Student Housing Development in San Diego, CA
San Diego, CA -- (SBWire) -- 02/09/2012 --On January 3, 2012 ACI closed $26,040,000 construction financing for a student housing development in San Diego, CA. The $40,000,000 student housing development is being built adjacent to San Diego State University and expected to be complete by mid 2013.
The financing was provided by a major California Bank with the following terms: 5 year loan, 5.75% fixed rate; 70% loan to cost.
Demand for student housing has been increasing across the US and this product has been proven to be recession proof, and not experiencing extreme financial hardships as with some other real estate products the past 5 years.
Construction financing for qualified borrowers; qualified product types; and qualified locations has been increasing the past two years as lenders and investors flock to finance multi-family housing.
As the banking and investor groups increase construction lending, the demand for Agency Loans (HUD- Housing and Urban Development and Fannie/Freddie has been reduced.
CI (Advanced Commercial Credit International (ACI) Limited is a Virginia Corporation and are Commercial Real Estate Investment Bankers.
ACI's unique knowledge, broad capital markets relationships, investor base, and national and international platforms, enable us to finance the most favorable financing/equity raise or sale for commercial properties. With a history of performance spanning more than 10 years, we bring to the table over 2,000 investors, plus an additional 3,000 industry contacts, combined with over 13,000 accounts that operate from offices in major and secondary markets throughout the US and Canada. ACI is a valuable relationship for virtually any real estate transaction. Some of our specialties include: Debt and Equity Placement with ACI Investors, Investment Sales – Acquisitions and Dispositions, Advisory Services, Private Equity & Corporate Finance, Structured Finance, Loan Sales, Loan Servicing.
ACI (Advanced Commercial Credit International (ACI) Limited a Virginia Corporation
Commercial Real Estate Investment Bankers
Terry Taylor (888) 755-8355
Media Relations Contact
Advanced Commercial Credit
View this press release online at: http://rwire.com/126328