The first financing, totaling $11.7 million, was for the 287-unit Carlton Apartments in Ewing Twp., NJ, near Trenton. Built in 1966, the asset consists of 18 two-story buildings. Gus Larson originated the transaction.
Penn Crest Apartments, Allenton, PA, was also built in 1966. The property, which consists of 188 luxury apartments in a dozen two-story buildings, received financing in the amount of $4.1 million. The second transaction was originated by Larson Financial regional vice president Gary Cohen. The ownership of the two properties was not disclosed.
LFR is a correspondent for Canada Life, Berkshire Life, American Equity Investment Life and ING. The firm is also a Freddie Mac Program Plus seller-servicer, and originates Fannie Mae DUS multifamily financing.
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