Remington Financial Group (RFG) arranges eleven million dollars.The Remington Financial Group, Inc., secured $5 million in permanent financing to help build a shopping center in Sunrise, Florida. An $11,500,000 non-recourse mortage, on permanent terms with secured rate financing, was obtained for a retail park in Sunrise, Florida. The most attractive feature of the financing was a 5.The interest rate of 11% was set for 10 years and liquidated over a period of 30 years. The center was able to use the loan to refinance the higher mortgage rates. This particular property, built in 1987, ws the home of an eight-screen theater that screened independent movie as well as apartment buildings. In a rising interest rate environment, many savvy real estate owners moved early to capture fixed rate pricing when the 10 year Treasury was hovering around 4 percent. Among those that particularly benefited are owners who refinanced mortgages that we originally placed on their properties in the late 1997 - 1998 time frame when fixed rates were north of eight percent. The owners were able to lower their payments 30 to 40 percent, even when taking defeasance into account.

One example of this type of circumstance would be that transaction. In fact, RFG was exclusively engaged by one of Florida's well-known real estate families for new financing of their center as well as in coordinating the defeasance of their present mortgage. RFG advised its client to fix the rate at application which paid off as the Treasury was over 4.by one quarter before the contract is finalized. The rate was locked for 80 days by RFG's lender with no charges to the customer. Working with RFG gives these benefits: services on abolition to customer at no expense, indicating that expense on transactions passed onto the borrower is quite low.