Hunt Mortgage Group Refinances Two Multifamily Properties in the Carolinas for the Same SponsorNew York, NY — July 12th, 2017
Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today it provided two Freddie Mac loan facilities to refinance two multifamily properties in the Carolinas for the same sponsor. The total Hunt Mortgage Group loan was $51.5 million.
The borrower is major national real estate fund and a repeat client of the Atlanta production team of Hunt Mortgage Group. The loans are seven-year Freddie Mac adjustable rate mortgage loans. The properties include:
· Highlands at Alexander Pointe. Hunt Mortgage Group provided a $31.9 million loan to refinance Highlands at Alexander Pointe, a multifamily property located in Charlotte, North Carolina. The property is comprised of 309 apartments housed in 28, two- and three-story apartment buildings. The property was built in 2002 and the amenities offered include a fitness center, clubhouse, grill area, pool, laundry center, and dog park.
Highlands at Alexander Pointe is located in the University City area of Charlotte. University City has the second largest concentration of retail and office space outside of the Charlotte central business district, as well as two of the biggest employment centers: the Carolinas Medical Center-University and UNC Charlotte.
· Carrington Place at Wildewood. Hunt Mortgage Group provided a $19.6 million loan to refinance Carrington Place at Wildewood, a multifamily property located in Columbia, South Carolina. The property is comprised of 240 apartments housed in 15, two-story buildings, a maintenance shop, pool building, mailbox kiosk building, and a two-story clubhouse/leasing office building.
Built in 2005, on-site amenities include a fitness center, clubhouse, grill area, pool, laundry center, playground, and dog park. Columbia is in Richland County, and the property is well located near quality retail, as well as a number of single family homes, commercial properties, schools and other multifamily properties.
“Both properties are in excellent condition with superior amenity packages and are more than 94% occupied,” noted John Beam, Managing Director at Hunt Mortgage Group. “The borrower is a seasoned commercial real estate and multifamily investor. We were pleased to deliver quickly on this loan for a quality sponsor to maximize proceeds and deliver an extremely competitive interest rate.”
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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 $13.4 billion. Headquartered in New York City, Hunt Mortgage Group has 221 professionals in 24 locations throughout the United States.