Hunt Mortgage Group Facilitates the Acquisition of a Student Housing Property in Waco, TexasNew York, NY — March 30th, 2016
Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today that it has provided a $26 million Freddie Mac loan to enable the acquisition of a student housing property located in Waco, Texas.
Domain at Waco Apartments is a student housing property located near Baylor University. The property consists of seven, three-story apartment buildings with one-, two- and four-bedroom units. The property is currently 100% occupied by students.
“Our client is a seasoned commercial real estate and multifamily investor that has been an active owner-operator for many decades,” commented Yogesh Joshi, Director at Hunt Mortgage Group.
The Baylor University is a private Christian university and a nationally ranked research institution founded in 1845. Baylor has 15,000 students and is in growth mode. The property offers convenient access to major thoroughfares, and is located on the bus route and within walking distance from Baylor University.
“The city of Waco includes a diverse mixture of residential, commercial, industrial, and public land uses, and the property is a newly-built class-A project with a variety of amenities catering to students,” added Joshi. “We were pleased to deliver on this loan for a solid repeat Hunt Mortgage Group customer.”
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Hunt Mortgage Group
Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc., is a leader in financing commercial real estate throughout the United States. The Company finances all types of commercial real estate: multifamily properties (including small balance), affordable housing, office, retail, manufactured housing, healthcare/senior living, industrial, and self-storage facilities. It offers Fannie Mae, Freddie Mac, HUD/FHA in addition to its own Proprietary loan products. Since inception, the Company has structured more than $21 billion of loans and today maintains a servicing portfolio of more than $12.5 billion. Headquartered in New York City, Hunt Mortgage Group has 191 professionals in 22 locations throughout the United States.