NEW YORK, June 18, 2019 /PRNewswire/ -- Hunt Real Estate Capital, a leader in financing commercial real estate throughout the United States, announced today it provided a Fannie Mae conventional multifamily loan in the amount of $7.65 million to finance the acquisition of a multifamily portfolio located in Fairfield, Ohio.
Fairfield Apartments is a 172-unit, garden-style apartment portfolio comprised of five different properties within 21 buildings located within a 3.4-mile radius across Fairfield. The properties were constructed in different years.
The borrower is Fairfield Property Holdings, LLC, a single-purpose, Ohio Limited Liability Company. The loan has a 12-year term with three years of interest-only, amortizing over 30 years.
"The borrower began investing in multifamily properties in 2016 and currently owns four multifamily facilities consisting of 230 units. All of the properties are located within the greater Cincinnati area," noted Dan Eibler, Director at Hunt Real Estate Capital. "The borrower is also a quality sponsor and a repeat Hunt Real Estate Capital client. We were pleased to partner with them again on this solid deal."
The deal was brokered by correspondent, James Huff of C4 Financial based in Cincinnati Ohio.
Fairfield Apartments is located within the Cincinnati MSA, one of the Midwest's fastest-growing metro areas, with a diversified economic base that includes manufacturing, wholesale and retail trade, insurance and finance, health services, and transportation.
About Hunt Real Estate Capital
Hunt Real Estate Capital, part 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, FHA financing and its own Proprietary loan products. Since inception, the Company has structured more than $28.4 billion of loans and today maintains a servicing portfolio of more than $15 billion. Headquartered in New York City, Hunt Real Estate Capital has 255 professionals in 24 locations throughout the United States. To learn more, visit https://huntrealestatecapital.com/.
Hunt Real Estate Capital
SOURCE Hunt Real Estate Capital