Rockport Mortgage Corporation

NEWS & EVENTS - SELECTED CLOSINGS

Closing Type: Facility Type:

12/19/07
Dallas, GA

Evergreens at Lost Mnt. Phase II RMC provided a bank loan to refinance Evergreens at Lost Mountain. Phase II at a loan amount of $3,400,000.

9/7/07
Tallahassee, FL

Evergreens at Mahan II RMC provided a conventional construction/permanent loan for the development of Evergreens at Mahan II, a 220 unit project. Phase I was financed by RMC under the HUD 221(d)(4) program. The total loan amount was $15,650,000.

8/3/07
Utica, NY

Colonial Square RMC provided a $18,340,000 conventional loan to Colonial Square Apartments. Colonial Square Apartments will be an inter-generational development and will include 70 single-family homes, 40 townhouses, 144 apartments, and a clubhouse for residents that are at least 55 years old.

7/17/07
Cartersville, GA

Evergreens at the Vineyard RMC provided a conventional loan of $3,800,000 to facilitate the acquisition of the Evergreens at the Vineyard.

6/1/07
Hope, NJ

Forest Manor Nursing Home RMC provided a $15,545,553 loan to finance the new construction/renovation of Forest Manor Nursing Home. The project was constructed in two phases and financed under a construction/bank loan. This project is the addition of 78 beds and the renovation of an existing 42-unit nursing and rehabilitation center. Phase one dealt with the construction of the new addition and phase two consisted of the renovations to the existing building. The facility now provides skilled nursing care to 120 residents.

5/11/07
Jackson, TN

The Jackson Portfolio RMC arranged for $65 million in conduit debt to facilitate our client's acquisition of 5 multifamily properties (902 units). Jackson is a considered a strong secondary market located northeast of Memphis. This fully non-recourse deal was highly structured by RMC including the cross-collateralization release provisions. The loan closed in under 30 days from the time of quote.

5/4/07
Johnson, RI

Park Plaza RMC provided a conventional loan of $3,250,000 loan for Park Plaza Apartments. The two-story apartment building contains 62 units. The property was previously refinanced under the HUD 236 program and is currently assisted by two Section 8 Housing Assistant Payments on all 62 units.