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A construction loan is made on a project with 3 distinct parts - an office complex, a multifamily tower and a hotel. The costs of

A construction loan is made on a project with 3 distinct parts - an office complex, a multifamily tower and a hotel. The costs of the components are: $125 million, $245 million and $95 million respectively. The loan is for $302.25 million (65% LTC) that is allocated across the 3 projects. The developer is thinking they might sell a part of the project at some point within a year of completion / stabilization. If the release amount is 125% of the allocated loan amount, what would be the required loan paydown if the developer sold the apartment tower?
Group of answer choices
about $141 million
about $159 million
about $126 million
about $199 million

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