Non Recourse Loan Agreement Template

PHOENIX, November 10, 2021–(BUSINESS WIRE)–Paragon Mortgage appear today the closing on a new architecture HUD 221(d)(4) Accommodation for the development of The Alexander Apartments in Marana, Arizona. Paragon anchored the $45.1M New Architecture accommodation for the development through the US Department of Housing and Urban Development’s 221(d)(4) Mortgage Insurance Program.

This columnist absolution appearance multimedia. View the abounding absolution here: https://www.businesswire.com/news/home/20211110005372/en/

Paragon Mortgage Corporation Arranges $45.1M HUD 221(d)(4) for New Architecture Accommodation (Graphic: Business Wire)

The HUD-insured costs provides for a accumulated architecture and abiding accommodation for Bazaar Amount multifamily projects. The non-recourse, absolutely assumable accommodation appearance a 40-year, absolutely amortizing accommodation appellation at 85% accommodation to cost.

The developers/owners, Lex Sears, Doron Sears and Emery Chukley accept accumulated requisite multifamily buying acquaintance and all-encompassing absolute acreage development experience.

Property amenities

The contemporary, garden apartments will accept 209-units, consisting of one-, two- and three- bedchamber units is one of alone a few communities in the breadth alms flush finishes, elevator admission to all aloft arena akin units, and all-encompassing association amenities. The Alexander will action 12 absorbed and 53 alone garages, 190 covered carport, and 124 accessible parking spaces, accepted breadth Wi-Fi acceptance association to roam throughout accepted areas after experiencing any Wi-Fi disruptions, and strategically placed autogenous and exoteric aegis cameras.

Unit amenities

The Alexander will accept Green/Sustainable appearance including Energy Star appliances, LED lighting and high-performing, low-E fiberglass windows, a recycling affairs and Acute Home technology. The apartments will appear able with a avant-garde technology package, which will action a seamless “sidewalk to sofa” acquaintance – acceptance association to ascendancy access gates, capital aperture access ascendancy to acute locks, and temperature and lighting ascendancy all from a distinct appliance on their acute phone.

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About Paragon

Paragon Mortgage Corporation is an FHA, HUD MAP and LEAN accustomed mortgage lender alone focused on HUD-insured costs for over 34 years. Headquartered in Phoenix, Arizona, Paragon Mortgage is accepted for its awful accomplished agents apery decades of originating, underwriting and processing of HUD/FHA loans. This acquaintance accumulated with Paragon’s abiding acceptability aural the industry and relationships aural the development association has resulted in the closing of over $4B in FHA insured loans. Paragon Mortgage specializes in FHA Insurance loans for a array of activity types – Refinancing and Acquisition costs for bazaar rate, affordable Multi-Family and Healthcare.

For added information, visit: www.paragon-mortgage.com.

View antecedent adaptation on businesswire.com: https://www.businesswire.com/news/home/20211110005372/en/

Contacts

Lilla Abegg-SwansonVice PresidentParagon Mortgage(602) [email protected]

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non recourse loan agreement template

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