Press Release - Financial Federal Bank Announces Five Major New Closings

Published on: November 26, 2012

FINANCIAL FEDERAL BANK ANNOUNCES FIVE MAJOR NEW CLOSINGS IN 
TEXAS, NORTH CAROLINA, MISSISSIPPI AND TENNESSEE

BANK’S 2012 COMMERCIAL/MULTI-FAMILY LENDING WILL EXCEED $200,000,000 

MEMPHIS, TN – Financial Federal’s rapidly growing Commercial/Multifamily Division has arranged financing for five new major projects in markets throughout the southeast:

  • $17,500,000 - 350-unit project - Knoxville, TN
  • $6,600,000 - 332-unit project - Memphis, TN
  • $21,760,000 - 413-unit student housing at UNC -Wilmington - Wilmington, NC
  • $24,650,000 - 172-unit student housing at Texas State University - San Marcos, TX
  • $5,625,000 - 72-unit student housing at University of Mississippi - Oxford, MS

Commercial and multifamily lending has been one of Financial Federal’s most productive lines of business over the past twelve months.  These new closings follow the bank’s recent announcement that they recently financed five office developments throughout Memphis, TN and Jackson, MS.  Total fundings in 2012 for the Commercial/Multifamily division will exceed $200,000,000 on properties located in Texas, Tennessee, Mississippi, Arkansas, North Carolina, Florida, Alabama, and Georgia.

“For over twenty-five years, Financial Federal has distinguished itself by the outstanding level of service we provide to our customers and our thoughtful approach to creating mutually-rewarding business relationships ,” says William Tayloe, Financial Federal’s President.  “We continue to be the lender of choice for more commercial and multifamily projects in more new markets, and we look forward to strategically growing this portfolio in 2013.”