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Reilly Mortgage Group Closes Nearly $140-Mil in Multifamily Loans

MCLEAN, VA-The mortgage company closed $138,544,000 in multi-family loans on projects ranging from garden to high-rise apartment complexes, from New York to Seattle. The company used a variety of Freddie Mac and Fannie Mae programs.

By Wendy Watkins | Updated on March 06, 2001

MCLEAN, VA-The Reilly Mortgage Group, headquartered here, closed $138,544,000 in multifamily loans across the country using a variety of Freddie Mac and Fannie Mae loan programs. The multi-family projects range from garden to high-rise apartment complexes from New York to Seattle.

Loans originated in Reilly’s Chicago office include: Legends of Wildcat Creek Apartments, Kokomo, IN, $9,689,000 for 200 units, through Freddie Mac’s early rate lock program, 8.02% interest; Timber Ridge Apartments, Oak Creek, WI, $12.2 million, 322 units, through Fannie Mae 7.66% interest; Governours Square Apartments, Columbus, OH, $29 million, 820 units through Freddie Mac’s early rate lock program with 7.87% interest; and Shagbark Apartments, Kenosha, WI, $2.95 million, 328 units, through Freddie Mac’s second loan program with an interest rate of 7.88%.

Reilly’s Philadelphia office closed the following loans: Hatfield Village Apartments, Hatfield, PA, $35 million for 40 units, through Fannie Mae with a 7.615% interest rate; and Cimarron Apartments, Jacksonville, FL, $2.08 million, 143 units, through Fannie Mae. Reilly’s San Francisco closed a $1.95 million loan on the 80-unit El Chaparral Apartments in Reno, NV, 80 units, through Fannie Mae with a 7.4% interest rate.

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