Lument Provides $40M Agency Loan for Refinancing of Multifamily Asset in League City, Texas
LEAGUE CITY, TEXAS — Lument, the newly formed organization between Hunt Real Estate Capital, Lancaster Pollard and RED Capital Group, has provided a $40 million Freddie Mac loan for the refinancing of Fairways at South Shore, a 432-unit multifamily asset in League City. The property was built in 2000 and is located between Houston and Galveston. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, spa, fitness center and a basketball court. Colin Cross of Lument originated the fixed-rate debt, which was structured with a 30-year amortization schedule and 24 months of interest-only payments, on behalf of the borrower, Houston-based Venterra Realty.