Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today that it has provided a $5 million Fannie Mae loan to refinance a multifamily property located in Dallas, Texas.

Casa Place Apartments was acquired by the borrower, St. James Redevelopment, Ltd., a Texas Limited Partnership, in October of 2004. Over the past two years, St. James has invested significant funding to extensively renovate the property.

The loan terms include a 10-year term, 25-year amortization period, and a 9.5 year yield maintenance period.

Casa Place Apartments is a 194-unit development located on the northwestern corner of the intersection of Webb Chapel Road and Chapel Creek Drive in a residential area of Dallas. The property consists of 17 two-story apartment buildings that totals approximately 164,177 square feet of net rentable space.

“The borrower is a repeat Hunt Mortgage Group and Fannie Mae customer,” noted Steven Cox, Managing Director at Hunt Mortgage Group. “Casa Place is performing well and in excellent condition due to the recently completely renovation. We were pleased to refinance this quality property for such a strong repeat sponsor.”

In addition to the apartment buildings, the property also includes a one-story leasing office and two, one-story laundry/boiler equipment buildings. Casa Place offers ten floor plans, including studio, one-bedroom, two-bedroom and three-bedroom apartment options. Parking is furnished on-site via 285 surface spaces.