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Special Report - Real Estate & Construction - July 05, 2012
Canyon Bluffs apartment developer refinances $13.1 million mortgage

By Mike McLean
Of the Journal of Business

Love Funding, a Washington, D.C.-based lender, says it has refinanced a $13.1 million loan for Canyon Bluffs Apartment Homes, a 192-unit, market-rate apartment complex in southwest Spokane.

Love Funding modified the financing through a Federal Housing Administration-insured program that reduces the interest rate on the borrower's 40-year loan, saving the property owner $200,000 annually, says Christopher Schilling, Love Funding's director, in a press release.

The deve...


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