Seven Springs Village Apartments Achieves Financing Goal

BETHESDA, Md., Sept. 15 /PRNewswire/ -- Seven Springs Village Apartments' financing was successfully extended this month. The community's fully-performing mortgage debt was set to mature on September 1, 2010, but ROSS Development and Investment (RDI), an affiliate of the ROSS Companies, successfully negotiated a modification and an extension of the loan term.

ROSS Development and Investment CFO David Miskovich says, "The financing extension and modification RDI was able to negotiate and execute is proof positive we are committed to the continued ownership and operation of one of the largest and most important performing assets in our portfolio."

Located inside the Beltway in College Park, MD, Seven Springs Village is a 982-unit apartment community comprised of both high rise and garden style buildings. Metrobus and the University of Maryland shuttle have bus stops within the community, making it a sought after place to live.

RDI, headquartered in Bethesda, MD, has owned Seven Springs Village Apartments since 2002. The community is currently 99% leased.

For more information about the ROSS Companies and their affiliates, visit TheRossCompanies.com

SOURCE ROSS Development & Investment