For immediate release
Contact: Chip Moore
Highland Commercial Mortgage
Sept. 18, 2014 – Highland Commercial Mortgage, Birmingham, Ala., provided $5.84 million in bridge financing for Summit Place at Limestone apartments in Gainesville, Georgia.
Chip Moore, President of Highland Commercial Mortgage explains, “This transaction for Summit Place at Limestone consisted of the original Phase I of the project with plans for Phase II to be constructed utilizing the HUD 221(d)(4) program.”
By providing the bridge loan, Highland was able to consolidate the project debt, eliminate duplicate expenses associated with alternative financing sources and accelerate the HUD 221(d)(4) loan processing timeline.
Highland Commercial Mortgage is a fully approved HUD MAP lender that works with clients across the country. Highland’s services include construction, refinance, acquisition, and redevelopment loan programs for multifamily, affordable housing, and healthcare facilities.