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
Premium Real estate Renting Apartment
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)
Premium Cash flow Net present value Internal rate of return
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
Premium Loan Debt Mortgage
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
Premium Human Drug Illegal drug trade
Compare & Contrast Many people nowadays face a difficult decision when they buy their own home. The question is whether they should buy a house or an apartment. Are there more advantages or disadvantages to living in a house rather than in an apartment? There are several reasons why people choose to move into a house or apartment. I prefer living in an apartment at this stage of my life but someday in the future I would like to live in a house of my own. There are advantages for living in a house in respect
Free House Apartment Real estate
Question: Some university students prefer living in campus housing such as dormitories. Other students prefer living in off-campus housing such as apartments. If you were faced with this decision‚ which of these two options would you choose? Use specific reasons and details to explain your choice. Nowadays‚ more and more students go to study far from home. Among a lot of things to concern‚ housing is likely the most important matter for students. Some of them choose to live in a dormitory while
Premium Apartment Dormitory College
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
Premium Biometrics Fingerprint
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
Premium Family Renting Rental agreement
APARTMENT (in American English) or flat (common in British English) is a self-contained housing unit (a type of residential real estate) that occupies only part of a building. Such a building may be called an apartment building‚ apartment house (in American English)‚ block of flats‚ block‚ high-rise or‚ occasionally mansion block (in British English)‚ especially if it consists of many apartments for rent. Apartments may be owned by an owner/occupier by leasehold tenure or rented by tenants (two
Premium Apartment
Living in an Apartment Since I have lived on my own‚ I have stayed in many different homes. I have lived in houses‚ as well as apartments. Living in an apartment complex has its ups and downs; however‚ there are quite a few disadvantages that can be involved. A few of the disadvantages of living in an apartment is noise‚ space‚ unfriendly neighbors‚ and the smell. One of the disadvantages is noise. There are times that noise and music from other tenants has interrupted me. Music blasting from
Free House Real estate