Financial Federal Bank arranges $5.3 million apartment refinancing in Memphis
Published on: February 26, 2020
The Memphis office of Financial Federal Bank has arranged the $5,300,000 refinance of Summereast Apartments in Memphis, TN. The garden style property was bought in 2018 and all 120 units were extensively renovated by the current owner. Rick Wood and Jon Van Hoozer of Financial Federal arranged the nonrecourse 10 year fixed rate loan with a rate under 3.90% and a 25-year amortization schedule through their origination and servicing relationship with Mutual of Omaha Life Insurance Company.
ABOUT FINANCIAL FEDERAL BANK. Financial Federal Bank is a locally owned and operated community bank headquartered in Memphis with presences in Nashville in Atlanta. For more information, visit finfedmem.com.