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Lancaster Pollard Provides $11M Fannie Mae Loan for Providence Place Seniors Housing Community in Pennsylvania

DOVER, PA. — Lancaster Pollard has provided $11 million in Fannie Mae financing for Providence Place Senior Living of Dover, located approximately 25 miles south of Harrisburg. The community offers independent living, assisted living and memory care services to the Central Pennsylvania borough of Dover. The number of units was not disclosed. The borrower and owner is Providence Place Senior Living, headquartered in nearby Hershey. Miles Kingston, Doug Harper and Casey Moore of Lancaster …

Hunt Provides $9.4M Acquisition, Renovation Loan for Affordable Multifamily Complex in North Georgia

ROME, GA. — Hunt Real Estate Capital has provided a $9.4 million Freddie Mac acquisition and renovation loan for Callier Forest Apartments, a 130-unit, mixed-income multifamily complex in Rome. The borrower, Memphis-based Envolve Communities (formerly LEDIC Realty Co.), plans to invest $7.3 million to upgrade unit interiors, including adding new kitchen cabinets, flooring, paint, fixtures and full bathroom renovations. Hunt Real Estate Capital closed the 17-year, tax-exempt loan featuring a …

Hunt Real Estate Capital: Growth Opportunities and Concerns in 2020

 Chad Thomas Hagwood of Hunt Real Estate Capital discusses growth opportunities in 2020 and the different drivers that make for a positive atmosphere, especially in secondary and tertiary markets around the country. Previously overlooked areas offer more opportunity to develop and less competition. Many secondary and tertiary markets are seeing corporate growth and increasing populations, which is driving more demand for multifamily housing.Limits on development include …

Hunt Provides $18.3M Refinancing for Two Multifamily Properties in Michigan

KALAMAZOO AND SAGINAW, MICH. — Hunt Real Estate Capital has provided two Freddie Mac loans totaling $18.3 million for the refinancing of two multifamily properties in Michigan. The borrower is Michigan-based limited liability company ROCO Real Estate. Both loans feature 10-year terms with 30-year amortization periods. The properties include Waverly Place, a 228-unit community in Kalamazoo; and Bancroft, a 152-unit community in

Hunt Provides $18.1M Fannie Mae Loan for Refinancing of Houston Multifamily Asset

HOUSTON — Hunt Real Estate Capital has provided an $18.1 million Fannie Mae loan for the refinancing of Copperwood Ranch Apartments, a 280-unit affordable housing community in Houston. Built on 12.1 acres in 2003, the property features 48 one-bedroom units, 168 two-bedroom units and 64 three-bedroom units. Amenities include a pool, recreation room, playground, fitness center and onsite laundry facilities. The loan was structured with a 15-year term, two years of interest-only payments and a …

Lancaster Pollard Provides $4.9M HUD Refinancing for Marjorie House Memory Care in Oregon

MCMINVILLE, ORE. — Lancaster Pollard has arranged a $4.9 million HUD loan to refinance Marjorie House, a 45-bed memory care community in McMinnville, approximately 35 miles southwest of Portland.Senior Development Resources operates the community.The borrower is Giza Development, which used the original bridge loan from OREC Structured Finance Co. to buy out other investors and refinance construction debt. Under HUD rules, the project was immediately available for permanent …

Hunt Real Estate Provides $32.5M Acquisition Loan for Multifamily Property in Metro Atlanta

DORAVILLE, GA. — Hunt Real Estate Capital has provided a $32.5 million acquisition loan for Ashford Walk, a 306-unit multifamily property in Doraville. The loan term is two years, with three one-year extension options. The property was built in 1983 and renovated in 2015 and 2016. The undisclosed borrower will also invest $2 million for interior renovations. The property comprises 65 two-story buildings and one clubhouse. Ashford Walk was 93 percent occupied at the time of sale. Community …

Hunt: Multifamily Should Remain a Favored Product Type in 2020

James P. Flynn, CEO of New York-headquartered Hunt Real Estate Capital, believes 2020 will continue to provide a strong environment for multifamily lending and transactions. Though this may be good news for borrowers, it does mean competition in the market will also remain strong.Flynn addresses these points and elaborates on ORIX USA’s acquisition of the Hunt Companies’ commercial real estate financing subsidiary in the Q&A below. Finance Insight: What commercial property sector …

Hunt Real Estate Capital Provides $45M Refinancing of San Antonio Multifamily Portfolio

SAN ANTONIO — Hunt Real Estate Capital has provided a $45 million bridge loan for the refinancing of a portfolio of 645 multifamily units in San Antonio and nearby Universal City. The sponsor was LYND Co., a locally based investment and development firm. The portfolio includes the 224-unit Auburn Creek in San Antonio; the 205-unit Fairways 5 in San Antonio; and the 216-unit Meadows Apartments in Universal City, all of which were built in the mid-1970s. LYND will use a portion of the proceeds …

Hunt Provides $67.6M Freddie Mac Refinancing for New Multifamily Property in Broward County

HALLANDALE BEACH, FLA. — Hunt Real Estate Capital has provided a $67.6 million refinance loan for Artsquare at Hallandale, a multifamily property located in Hallandale Beach, approximately 13 miles south of Fort Lauderdale. The borrower is Hallandale Land Ventures LLP, a subsidiary of Integra Investments. The Freddie Mac Lease-Up loan has an 11-year term with four years of interest-only payments, followed by a 30-year amortization schedule.Built in 2018, the 358-unit community is located …

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