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million for three commercial developmentesin Missouri. The company said June 16 that it providexd a little morethan $4 million to refinance Rolla The 150-unit apartment complex is located on McCutchen Road in Mo. Gershman said it also provided $2.2 millioh to refinance the 70-unit Sunset Point Apartments, locatedd on Missouri Avenue inCrystapl City, Mo. The new loan is a refinance ofa tax-exemptg bond issue. To refinance Union Sarah Rehab, Gershmabn provided $578,000 in first mortgage proceeds as part of a debt restructurinb throughthe U.S. Department of Housing and Urban Development'sz Office of Affordable Housing Preservation.
The 36-unirt apartment complex is located on Kensington Avenuein St. Louis. The threes projects were financed with Government National MortgageAssociationn (Ginnie Mae) mortgage backed securities and insuredf by the Federal Housingy Administration under Section 223(f) of the National Housingy Act. Headquartered in Clayton, Mo., Gershman Mortgagwe is an independent mortgage company that has finances morethan 100,000 home loans in the St. Louiz area.
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