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ALBANY, NY, October 10, 2019 /24-7PressRelease/ -- CMN's direct funded project featured a loan amount of $476,000 towards the complete rehabilitation of an 18-unit apartment building located in Indianapolis, IN. CMN was able to procure 80% loan-to-cost financing for the project.
The first of CMN's arranged closings took place in Chicago, IL. The client received $2,500,000 in preferred equity towards a buy-out of a vacant building located in the heart of Wrigleyville. The second phase of the project, which entails the construction of a multi-use commercial property, will feature the inclusion of a popular chain restaurant on the first floor.
Finally, the second of CMN's arranged financing projects was for the purchase of a 6-unit, fully occupied, apartment building located in Amsterdam, NY. The total loan amount procured was $217,500. The client received long-term financing at extremely competitive rates complete with a small seller concession.
About CMN Funding
CMN Funding, a division of CMN Real Estate Group, Inc., is a financial services company that specializes in the needs of the commercial client. Established in 2003, CMN is a full-service outlet for commercial financing whose primary focus is to obtain funding for commercial real estate transactions.
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