Hunt Mortgage Finances Acquisition of 160-Unit Apartment Property in Austin
AUSTIN, TEXAS — Hunt Mortgage Group has provided a $12.6 million first mortgage bridge loan to enable the acquisition of an undisclosed, 160-unit multifamily community in Austin. The garden-style property was built in 1984 and consists of 10 three-story buildings and a leasing office. The 36-month loan was structured with floating-rate debt, part of which will be used to implement a capital improvement plan. The borrower was not disclosed.