Churchill Mortgage Arranges $6 Million Loan

Press Release
For Immediate Release

Contact: Cindy Hammond, President
Churchill Mortgage of Arizona, Inc.
11811 N. Tatum Blvd., Suite 3083
Phoenix, AZ 85028
Phone: 602-748-1501
Fax: 602-748-1515
Email: chammond@cmaz.com

Tucson, Arizona — Churchill Mortgage of Arizona, Inc. closed a $6 million acquisition loan secured by Mission Creek Apartments, a 200 unit, Class “B” apartment complex located at 1451 West Ajo Way, Tucson, Arizona. Holualoa Companies acquired the apartment complex which is 93% leased for $7,800,000. Churchill’s loan correspondent, Morgan Stanley, funded the non-recourse, 10 year loan. Cindy Hammond, President, and Karl Abert, Vice President of Churchill Mortgage of Arizona, Inc. arranged the financing which funded on November 30, 2006, just 27 days from signing of the loan application, and concurrent with the closing of the property acquisition. Churchill Mortgage of Arizona, Inc. represents nineteen correspondent lenders comprised of life companies, banks and pension funds.