Published on: 03 December 2012
Sarah Baker, Memphis Daily News
Financial Federal’s Commercial/Multifamily Division has arranged financing for five new major projects in markets throughout the Southeast.
The projects are a $6.6 million, 332-unit project in Memphis; a $17.5 million, 350-unit project in Knoxville; a $21.8 million, 413-unit student housing facility at University of North Carolina Wilmington, in Wilmington, N.C.; a $24.7 million, 172-unit student housing facility at Texas State University in San Marcos, Texas; and a $5.6 million, 72-unit student housing facility at University of Mississippi in Oxford.
These closings follow the bank’s recent announcement it financed five office developments in Memphis and Jackson, Miss. Total fundings in 2012 for the Commercial/Multifamily division will exceed $200 million on properties in Texas, Tennessee, Mississippi, Arkansas, North Carolina, Florida, Alabama and Georgia.
Financial Federal’s Commercial/Multifamily Division services more than $1 billion in commercial loans with properties across the U.S.