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| October 13, 2010 |
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| TWO WISCONSIN APARTMENT PROPERTIES SELL FOR $3.05 MILLION |
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JEFFERSON, WIS. — Crown Court Properties has acquired Jefferson Oaks West and Jefferson Commons, two apartment communities in Jefferson, for a combined price of $3.05 million. Jefferson Oaks West is located at 622 Collins Road and Jefferson Commons is located at 1009 Meadows Lane. The two properties were combined to form a 64-unit affordable housing project utilizing Federal American Recovery and Reinvestment Act Funds and received an allocation of tax credits under the Section 42 Low Income Housing Tax Credit program, which is administered by Wisconsin Housing and Economic Development Authority. Additionally, the transaction was funded by the United States Department of Agriculture under the Section 515 program. Dan Roseliep and Shane Thomas of Sperry Van Ness represented the seller, Roof Tree Properties, in the transaction.
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| 25,500-SQUARE-FOOT FACILITY ACQUIRED IN ILLINOIS |
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SCHAUMBURG, ILL. — Crescend Technologies, a communication equipment designer and manufacturer, has purchased a 25,500-square-foot property in Schaumburg. Located at 140 E. State Parkway, the state-of-the-art facility features an air-conditioned production area, office space, engineering space and heavy power. The buyer plans to use the facility as its corporate headquarters and manufacturing center. Dan Smolensky of The Modal Group represented the buyer. The seller was not disclosed.
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| ARBOR CLOSES $2.86 MILLION MULTIFAMILY LOAN IN MINNESOTA |
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MANKATO, MINN. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has funded a $2.86 million loan for Village Place Apartments in Mankato. The complex offers 70 apartment units. Funded under the Fannie Mae DUS Small Loan product line, the 10-year loan carries a 30-year amortization schedule. Patrick McNulty of Arbor's Chicago office originated the loan.
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Midwest
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