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ST. LOUIS, May 20, 2005—Gershman Mortgage, one of the largest mortgage lenders in St. Louis, provided over $2 million for Blumeyer Apartments in St. Louis and over $300,000 for the Arlington Arms in Jersey City. For more than 50 years, Gershman has provided financing for residential real estate in the St. Louis region, and for commercial multi-family projects nationwide.

Gershman provided $2,043,300 in financing for Blumeyer Phase III. The 94-unit Blumeyer Apartment Complex is located at the corner of North Compton and Delmar Boulevard. Construction has begun on the project. The loan is financed with GNMA mortgage backed securities and insured by the FHA under Section 221 (d) (4) of the National Housing Act. Additional financing was also provided from Hope VI Funds, Home Funds, and low-income housing tax credit proceeds.

Gershman provided $362,200 to refinance Arlington Arms in Jersey City, New Jersey. The 50-unit apartment complex was financed with GNMA mortgage backed securities and insured by the FHA under section 223 (a)(7) of the National Housing Act.

Gershman is the oldest independent mortgage company in St. Louis, and one of the largest in Missouri. Gershman is an area leader in FHA/VA and conventional single-family home loans, having financed over 75,000 loans in the St. Louis area alone. Nationally, Gershman services over half a billion dollars in loans for multi-family and healthcare facilities. Gershman provides all types of financing for apartments, nursing homes, assisted living facilities, and hospitals. Gershman Mortgage is one of only 63 lenders in the country approved for MAP (Multi-family Accelerated Processing) for apartments, assisted living and nursing homes.

Gershman Mortgage’s website is located at www.gershman.com. The site’s commercial side outlines the products and programs available to commercial borrowers. It provides links to important resources and includes a list of documents necessary for reviewing loan requests. In addition, the site highlights projects and facilities financed by Gershman Mortgage.

Gershman Mortgage has offices in Clayton, St. Peters, and Fairview Heights, IL and can be found on the web at www.gershman.com. Gershman’s Clayton office is located at 7 North Bemiston. The main phone number is (314) 889-0600 or 1-800-GERSHMAN.