NEW YORK, Oct. 21, 2019 /PRNewswire/ -- Hunt Real Estate Capital announced today it provided one Fannie Mae Conventional Loan and four Fannie Mae Small Loans to refinance five properties located in California's Los Angeles and Riverside counties. All five loans feature a 30-year, fixed-rate term and 30-year amortization schedule.
"Hunt Real Estate Capital was pleased to structure a custom loan arrangement to secure these properties and cater to the borrower's long term financial needs," noted Chris Warren, Managing Director at Hunt Real Estate Capital. "Fannie Mae's product portfolio was the perfect solution in this scenario, enabling us to deliver custom fixed terms and prepay penalties."
The properties in the portfolio consist of:
- Park Towne Apartments. Hunt Real Estate Capital provided a conventional Fannie Mae Conventional Loan for $19.83 million to refinance Park Towne Apartments, a 200-unit, garden-style apartment community located in Perris, California. The property is comprised of 14 two-story buildings, a building currently leased to a daycare center, and a leasing office. The property was developed in 1991 with amenities that include a laundry facility, playground, pool, and 437 parking spaces.
- Bogart Apartments. Hunt Real Estate Capital provided a $1.57 million Fannie Mae Small Loan to refinance Bogart Apartments, a 15-unit, one-story apartment building that was built in 1987 in Riverside, California. The property consists entirely of two-bedroom units. Property amenities include a laundry room, as well as surface and carport parking spaces.
- Summer Wind Apartments. Hunt Real Estate Capital provided a $2.54 million Fannie Mae Small Loan to refinance Summer Wind Apartments, a 24-unit, three-story apartment property built in 1987 in Hawthorne, California. The property offers residents one- and two-bedroom unit options. Amenities include controlled access, a laundry room, on-site management, as well as surface, tuck-under, and carport parking spaces.
- Windsong Terrace Apartments. Hunt Real Estate Capital provided a $4.21 million Fannie Mae Small Loan to refinance Windsong Terrace Apartments, a 39-unit apartment property located in Hawthorne, California that consists of all two-bedroom, one-bathroom units. The property was built in 1987 and was renovated from 2016 to 2019. Amenities include controlled access, a laundry room, on-site management, as well as surface and podium parking spaces.
- Bristol Square Apartments. Hunt Real Estate Capital provided a $4.40 million Fannie Mae Small Loan to refinance Bristol Square Apartments, a 40-unit property located in Hawthorne, California. The unit mix consists entirely of two-bedroom, one-bathroom apartments. The property was built in 1987 and renovated in 2019. Amenities include controlled access, a laundry room, on-site management, as well as surface and podium parking spaces.
About Hunt Real Estate Capital
Hunt Real Estate Capital, a division of Hunt Capital Holdings LLC, ("HREC") is a leader in financing, investing and managing multifamily housing and commercial real estate. HREC is a source of debt and equity capital for multifamily, affordable housing, manufactured housing, healthcare/senior living, retail, office, industrial, self-storage, and mixed-use assets through Fannie Mae, Freddie Mac, FHA, its own balance sheet and managed public and private investment vehicles. HREC is the third largest multifamily property manager in the US. To learn more, visit https://huntrealestatecapital.com.
Hunt Real Estate Capital
SOURCE Hunt Real Estate Capital