McRae Mortgage & Investment, LLC
McRae Mortgage & Investment, LLC

McRae Mortgage & Investment
Corporate Real Estate Loans
Comercial Real Estate Investments
Commercial Property Financing Spotlight
Contact Us
Mcrae Mortgage in the Press for Commercial Property Loans



Press Releases

FOR IMMEDIATE RELEASE
31 October 2002

Contact: Kenneth G. McRae
(501) 661-1313

McRae Mortgage Announces the Closing of $106 Million Commercial Real Estate Loans

Little Rock - McRae Mortgage & Investment, LLC, announced today that GE Real Estate has closed and funded a series of permanent fixed-rate, non-recourse mortgage loans totaling $106,000,000 for Lindsey Management Company, Inc. of Fayetteville, Ark. during 2002.

These loans are secured by 2,304 apartment units contained within nine properties in five states. Arkansas properties include: Cliffs Phase IV, Fayetteville; Shiloh, Fayetteville; The Links, Bentonville; and Spring Lake in Russellville. Properties in surrounding states include: Greens at McKinney, McKinney, Tex.; Greens at Springfield, Springfield, Mo; Broken Arrow, Broken Arrow, Okla.; The Greens at Owasso, Owasso, Okla.; Greens at Shawnee, Shawnee, Kan.

According to Roy Stanley, President of Lindsey Management, “The purpose of these new loans is to pay off construction lenders and other short-term lenders, primarily Arkansas Banks – lowering interest costs.“ D. Scott Rogerson, CFO of Lindsey continued, “The transactions were structured to secure favorable permanent, non-recourse loans for 12 years.“ adding, “We’ve worked with GE for some time – we’re approaching a quarter of a billion dollars in transactions with them.”

“GE Real Estate has a long-tanding relationship with Lindsey Development … working on numerous multifamily transactions throughout the Midwest. Through its association with McRae Mortgage, GE Real Estate has provided Lindsey with long-term debt on a number of quality multifamily properties,” said Dan Smith, senior vice president, GE Real Estate – North America Debt.. “The professionals at Lindsey know the business well and this is reflected in the l strength of the properties they develop.”

Edward M. Coco, easternregion managing director, GE Real Estate – North America Debt, commented, “GE Real Estate is very happy with the relationship and looks forward to future ventures with Lindsey Development.“

Lindsey Management Company, Inc., (www.lindseymanagement.com) under the leadership of James E. Lindsey, founder and Chairman, began in 1985 and is headquartered in Fayetteville, Arkansas. The company has developed over 21,000 apartment units representing 90 apartment communities in seven states and is the largest real estate company in Arkansas. In addition to multi-family, the company has also developed 22 golf courses and several commercial centers in Arkansas and surrounding states.

GE Real Estate (www.gecapitalrealestate.com), a business unit of GE Commercial Finance, is headquartered in Stamford, Connecticut, and has a portfolio of approximately $30 billion in assets and more than 30 offices throughout North America, Europe and the Pacific Rim.

GE Commercial Finance offers businesses of all sizes an array of financial services and products worldwide. With more than $180 billion in assets, and a particular expertise in the mid-market segment, GE Commercial Finance provides loans, operating leases, financing programs and innovative structured capital to help customers grow. It also offers loans and financing leases for major capital assets, including a full range of aircraft fleet and financing solutions; industrial facilities and equipment, and energy-related facilities; commercial and residential real estate loans and investments; and loans to and investments in public and private entities in diverse industries. A wholly-owned subsidiary of General Electric Company, GE Commercial Finance, is headquartered in Stamford, Connecticut. GE is a diversified services, technology and manufacturing company with operations worldwide.

McRae Mortgage & Investment, LLC, is a private commercial mortgage banking company headed by Kenneth G. McRae IV, with offices in the Morgan Keegan Building in Little Rock and a member of the Mortgage Bankers Association of America. (www.mcraemortgage.com)


"GE helps us win again and again. We can count on them to do what what they say they're going to do. And while others are in and out of the market, GE is always there, ready to support us. That makes our clients confident that we'll get there deals closed, as committed - and, more often than not, we do."

KEN MCRAE
McRae Mortgage & Investment
Little Rock, AR

At GE Capitol Real Estate
we're building our business
to serve you better.


Home | Corporate Profile | Recent Transactions | Property Spotlight | Contact Us | Press
100 Morgan Keegan Dr. Suite 420 | Little Rock, AR 72202 | 501-661-1313
kmcrae@mcraemortgage.com