The Millegan Creek Apartment case is an example of a commercial loan. The parties involved in the commercial loan are JP Multifamily Inc. and Fleet Bank. Real Estate group at Fleet Bank want to find out whether or not to accept JPI’s proposed $15‚715‚000 loan for a 390-unit apartment project in Austin‚ Texas. The details about the each party‚ market and financial analysis of the project is outlined below. THE BORROWER -JP MULTIFAMILY INC. The Development Expertise JPI Multifamily Inc.(JPI)
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promising for success assuming high occupancy levels. The Millegan Creek Apartments would be a 390 unit apartment project in Williamson County‚ for a proposed $15‚715‚000 loan. It would be about 11 miles northwest of the CBD and close to many of Austin’s high tech companies. This location would be beneficial because it can service many of the high tech companies’ employees and since the apartments are being built as a typical luxury apartment complex‚ it will be more appealing to these employees. JPI
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Millegan Creek Background: Tom Hayden—March 1994‚ VP of commercial real estate at Fleet Bank Proposed Loan: $15‚715‚000 on 390 Unit Apartment in Austin‚ Texas -new market—new construction concern‚ new developer -question about sponsors—financial capacity & development experience -Lack of a commitment for permanent financing--takeout or permanent loan was how most construction loans are repaid -past 5 years‚ Fleet + other commercial have lost billions because when construction loans became
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The Apartment I live in a small apartment in the middle of town. The apartment that I lived in was a quite nice three storey apartment with two flats on each storey. I have mostly got nice neighbours besides for one who I have never seen before who lived on the same storye as me. One day I was wondering if anyone else new who lived in the apartment next to mine‚ but no one seemed to know. Suddenly‚ a lot of thoughts were going through my mind. Maybe he is a terrorist. Maybe he is a thief. Or maybe
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CE 414 1st SEM AY 2015 – 16 12-71378 SUSTAINABLE DESIGN: K2 Apartments Global population is rising and it is a fact that people are living longer. According to the study conducted by United Nations‚ research found that there will be more than 10 billion people living on earth by the year 2100. It is also no secret that there is also Global Warming and Climate Change that the world is facing now. Population rise is maybe one of the greatest reasons why sustainable development is needed nowadays
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16. Northgate Apartments Designed to offer a carefree lifestyle‚ this community is only five miles away from downtown Boston. Placed at 237 Lantern Road‚ it is just three miles away from Logan Airport. Tenants at the property can enjoy having a location adjacent to dining‚ shopping and recreational options. Boasting of a superior level of comfort‚ these units are next to a full-service shopping center. Residents at the location can enjoy having affordable rents in a modern rental property. Boasting
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Most-Affordable Apartments On a fine day in February‚ I woke up to a text message from my aunt. In this message‚ she explained she wanted me to branch out of my comfort zone in Austin and research my other options elsewhere. In other words‚ she was giving me a push to look for other places to attend school or work in. Later that week‚ my uncle‚ aunt‚ mom‚ and I had a family meeting about what my other possible educational and vocational options were. My mom suggested looking for apartments in South
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Supply and Demand of Rental Apartments Simulation Veronica L. Powell University of Phoenix ECO / 365 Liliana Fargo November 10‚ 2009 Supply and Demand of Rental Apartments Simulation GoodLife Management is a management firm that manages seven apartment complexes in Atlantis. GoodLife is the only firm that rents apartments in Atlantis and has subsequently created a monopoly within the market. The closest substitutes are rental detached homes which are provided by Oakridge Builders
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2/06/14 Word Count:1340 Apartment Maintenance I stood as far away as I possibly could while my dad cut the pipe; dark brown sludge and waste spewed everywhere‚ landing on every recipient within distance. Never in my life did I look around and seriously realize my good fortune. Becoming conscious of the differences in my way of life compared to those who live in low income neighborhoods did not occur to me until I had the experience of managing and maintaining an apartment complex. Indeed‚ it
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CHAPTER 1 INTRODUCTION Rationale Every individual has the desire to live in a peaceful manner and in a secured way. Apartment is one of the most profitable establishments here in Cebu City for the number of people came from provinces keeps on increasing. Living in an uncertain world‚ apartment’s owners want to maintain safety measures in their firms and occupants might as well want to be secured. Encroachment is an issue nowadays. It is an act of illegal entry without any permission from
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