Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today it has refinance two multifamily properties located in Florida. The total Hunt Mortgage Group investment is $24.5 million. The properties include:
- Village at Lake Osborne Apartments. Located at 2430 Lake Worth Road in Lake Worth, Florida, Village at Lake Osborne Apartments was constructed in 2017 and is in excellent condition. The property is comprised of three, three-story apartment buildings and a leasing office/clubhouse. The property offers 118-units and 168 open parking spaces.
Hunt Mortgage Group provided a $13 million Fannie Mae DUS conventional multifamily loan to refinance this property. Lake Worth is located approximately 64 miles north of Miami. The loan term is 10-years, with 2-years of interest-only, and amortization based on a 30-year schedule. The borrower is AHS Development Group, LLC, a local customer of Hunt Mortgage Group. Property amenities at this gated community includes on-site management and maintenance, nearby public transportation, and a fitness center and pool.
- Amelia Oaks Apartments. Hunt Mortgage Group provided a Fannie Mae conventional multifamily loan in the amount of $10.5 million to refinance Amelia Oaks Apartments. Located at 295 West 79th Place in Hialeah, Florida, the property is a recently constructed, garden-style apartment property in excellent overall condition. Amelia Oaks offers a total of 82-units housed in five, three-story buildings. This gated community also has 164 surface parking spaces.
The loan term is ten-years and amortization is based on a 30-year schedule with five-years of interest only payments. The borrower is Hialeah 2.71 Acres, LLC, a Florida Limited Liability Company. Hialeah is located within the Miami MSA.
“We were pleased to provide the loans needed to refinance these two quality properties in Southern Florida,” noted Marc Suarez Director, at Hunt Mortgage Group. “Both properties were recently built and offer luxury housing to local working class residents.”
“Both borrowers are knowledgeable and experienced commercial real estate and multifamily investors,” added Suarez. “We look forward to partnering with them again in the near future.”