Outside the Region: Hunt Mortgage Group refinances eight properties totaling $40.4 million

February 20, 2018 - Front Section

Lake Worth, FL According to Hunt Mortgage Group, it has refinanced eight properties totaling $40.4 million:

• Village at Lake Osborne Apartments, 2430 Lake Worth Rd.: Hunt provided a $13 million Fannie Mae DUS conventional multifamily loan to refinance this property. The term is 10-years, with two years of interest-only, and amortization based on a 30-year schedule. The borrower is AHS Development Group, LLC.

• Amelia Oaks Apartments, 295 West 79th Pl., in Hialeah, Fla.: Hunt provided a $10.5 million Fannie Mae conventional multifamily loan to refinance the property. 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.

• Leisure Villa Apartments, 3003 North Overlook Rd., Boise, Ida.: Hunt provided a $1.8 million Freddie Mac Small Balance Loan to refinance the multifamily property. The loan is ten-year fixed rate transaction with a 30-year amortization and a yield maintenance prepayment schedule.

• Beachview Gardens, 544-560 Beachway Ave., Keansburg, N.J.: The subject is a 44-unit multifamily property and is 97% occupied. The total Hunt investment in this property was $4.6 million.

• Clementon Norse Apartments, 222 White Horse Pike in Clementon, N.J.: Hunt provided a $4.4 million loan to refinance the 56-unit property. The borrower, Norse Holdings, has invested $122,900 in capital improvements.

• 165 Quincy Ave. Apartments, Kearny, N.J.: Hunt provided a $1 million loan. The borrower, Norse Holdings, has invested $52,975 in capital improvements. 

• 388 Smith St., Perth Amboy, N.J.: Hunt invested $1.3 million to refinance the rent controlled 12-unit multifamily property. The borrower, Norse Holdings, invested $69,150 in capital improvements. 

• Woodbine Apartments, 300 Broadway, Westville, N.J.: Woodbine Apartments is a 48-unit multifamily property. Hunt invested $3.8 million to refinance Woodbine Apartments and the borrower, Norse Holdings, completed $89,050 in capital improvements.

Comments

Add Comment


More from the New York Real Estate Journal