CST: 29/09/2016 13:40:35   

Hunt Mortgage Group Refinances Two Multifamily Properties in Los Angeles for the Same Sponsor

258 Days ago

Total Funding Equals $20 Million

NEW YORK, NY--(Marketwired - Jan 15, 2016) - Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today that it has refinanced two multifamily properties located in Los Angeles, California. The total funding by Hunt Mortgage Group is $20 million.

The loan term for both Fannie Mae deals is 10-years with 30-year amortization. The borrower is a California Limited Partnership. The deals include:

  • Hobart Villa Apartments. Hobart Villa Apartments is a 68-unit mid-rise apartment building comprised of one, four-story building. The property was developed in 1991 with 53,951 square feet of rentable space. The property currently has one vacant unit and offers 130 parking spaces. Hunt Mortgage Group provided a loan in the amount of $8 million to refinance Hobart Villa Apartments.

  • Kingsley Grand Apartments. Hunt Mortgage Group placed a $12 million loan to refinance Kingsley Grand Apartments. Kingsley Grand is improved with one, three-story apartment building containing 90 units. The property was developed in 1990 with 77,749 square feet of rentable space. The property is fully occupied and offers 180 parking spaces.

"Our client is a repeat Fannie Mae customer with extensive knowledge of the local Los Angeles market," commented Yogesh Joshi, Director at Hunt Mortgage Group. "He is a seasoned industry veteran, serving as owner, manager and developer of multifamily properties for 45 years. We were pleased to deliver on these two new loans for this solid investor.

About 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, hospitality, industrial, and self-storage facilities. It offers Fannie Mae, Freddie Mac, HUD/FHA in addition to its own Proprietary loan products including balance sheet, conduit and floating rate CLO financing. Since inception, the Company has structured more than $20 billion of loans and today maintains a servicing portfolio of more than $11 billion. Headquartered in New York City, Hunt Mortgage Group is comprised of 153 employees located in 16 locations throughout the United States. To learn more about Hunt Mortgage Group, visit www.huntmortgagegroup.com.

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