| USDA program to aid rural home buyers
U.S. Department of Agriculture Rural Development and the Federal Home Loan Bank of Des Moines has announced a partnership to benefit community bankers and rural home buyers in Iowa. As a part of its Mortgage Partnership Finance program, FHLB Des Moines will now purchase Rural Development's Single Family Housing Guaranteed Loan Program loans from its qualifying members to help finance housing opportunities for rural residents.In Iowa, nearly 400 commercial banks, saving institutions, credit unions and insurance companies who are members of FHLB of Des Moines will have an added market for their loans by offering 100 percent financing to limited-income families in rural communities for homeownership. FHLB of Des Moines has more than 1,200 members in Iowa, Minnesota, Missouri, North Dakota and South Dakota.USDA Rural Development's Guaranteed Loan Program helps low- and moderate-income individuals get the best possible financing package when buying a home without a large down payment.
G REIT, Inc. Announces the Sale of One Financial Plaza in St ...
SANTA ANA, Calif., April 5 /PRNewswire/ -- G REIT, Inc. President and Chief Executive Officer Scott D. Peters today announced the sale of One Financial Plaza. G REIT, Inc. owned a 77.63% interest in the property, while tenant-in-common investors owned the remaining 22.37%. The disposition closed on March 30, 2007. One Financial Plaza, located in St. Louis, Missouri, was sold for a total sales price of $47,000,000 to Parmenter Realty Fund III, Inc. Jaime Fink of Holliday Fenoglio Fowler, L.P. represented G REIT and the tenant-in-common investors. The buyer represented itself in the transaction. One Financial Plaza was originally purchased in August 2004 for $37,000,000. After payment of a related mortgage loan, closing costs and other transaction expenses, and the return of lender required reserves, G REIT's net cash proceeds from the sale were approximately $11,487,000.
Fitch Affirms COMM 1999-1 Commercial Mortgage PT Ctfs
NEW YORK--(BUSINESS WIRE)--Fitch affirms Deutsche Mortgage & Asset Receiving Corp.'s commercial mortgage pass-through certificates, COMM 1999-1, as follows: --$697.4 million class A-2 at 'AAA'; --Interest-only class X at 'AAA'; --$62.3 million class B at 'AAA'; --$22.9 million class C at 'AAA'; --$62.3 million class D at 'AAA'; --$81.9 million class E at 'AAA'; --$19.7 million class F at 'AAA'; --$68.8 million class G at 'BBB+'; --$13.1 million class H at 'BBB'; --$26.2 million class J at 'B+'; --$19.7 million class K at 'B-'. Fitch does not rate the $10.5 million class L certificates. Class A-1 paid in full.
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