MuniMae Originates $10.2MM Rev Bond

Published June 15, 1998, 1:00 p.m. EDT

1 Min Read

Municipal Mortgage and Equity LLC, Baltimore, has announced the origination of a $10.2 million tax-exempt mortgage revenue bond collateralized by a planned 156-unit garden-style multifamily complex in San Antonio.The bond, issued by the Bexar County Housing Finance Corp., bears a construction interest rate of 8.25% and a permanent interest rate of 7.00%. MuniMae said it will earn 2.0% of the bond amount as construction administration and financing fees. The complex, The Villas at Sonterra, will be located in San Antonio's Stone Oak community.

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