SOURCE: Hunt Mortgage Group

Hunt Mortgage Group

November 06, 2014 09:10 ET

Hunt Mortgage Group Refinances Three Multifamily Properties Located in Dallas County, Texas

Total Funding Equals $17.75 Million

NEW YORK, NY--(Marketwired - Nov 6, 2014) - Hunt Mortgage Group, a commercial real estate lender, announced today that it has refinanced three multifamily properties located in Dallas County, Texas for the same sponsor. The total Hunt Mortgage Group investment was $17.75 million. 

The properties include:

  • Courtney Place Apartments. Hunt Mortgage Group provided a $2.75 million Fannie Mae loan facility to refinance Courtney Place Apartments located in Dallas, Texas. Courtney Place Apartments is a 104-unit garden style multifamily property comprised of seven, two-story residential buildings and a single-story clubhouse. The property was built in 1965. 

  • Spanish Stone Apartments. Hunt Mortgage Group provided a $3.5 million Fannie Mae loan to refinance Spanish Stone Apartments located in Garland, Texas. Spanish Stone Apartments is a garden style multifamily property that is comprised of 12 two-story residential buildings and a two-story leasing office/maintenance building. The property was built in 1959 and has a total of 126 units. 

  • Spanish Meadows Apartments. Hunt Mortgage Group provided an $11 million Fannie Mae loan to refinance Spanish Meadows Apartments, a multifamily property located in Mesquite, Texas. The complex houses 365 units.

The loans on all three facilities include a 10-year term, 30-year amortization period and a 9.5 year yield maintenance period. 

The borrower is a Texas limited partnership that is managed by Gage Investments, Ltd. Gage is owned solely by Gage Management, L.L.C., a Texas limited liability company.

"Gage Management is a repeat Fannie Mae customer and the borrower is a seasoned industry executive with a solid background in commercial real estate investing," said Steven Cox, Managing Director at Hunt Mortgage Group. "The properties are well managed and are located in healthy Dallas-Fort Worth submarkets. This was a solid deal for Hunt."

Hunt Mortgage Group provides financing for conventional multifamily properties throughout the United States. Hunt Mortgage Group is a Fannie Mae DUS lender, Freddie Mac seller-servicer, FHA-approved mortgage provider. It also is a proprietary lender for other commercial real estate assets. 

About Hunt Mortgage Group

Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc., is a specialty finance company focused on financing commercial real estate nationwide. The Company specializes in financing multifamily properties, but also finances: affordable housing, manufactured housing, healthcare/senior living, office, retail, industrial, and self-storage facilities throughout the United States. It offers Fannie Mae, Freddie Mac, HUD/FHA and its own proprietary loan products. The Company maintains a servicing portfolio of over $10.4 billion. Headquartered in New York City, Hunt Mortgage Group is comprised of 129 employees located in 15 locations throughout the United States. To learn more about Hunt Mortgage Group, visit www.huntmortgagegroup.com.

Contact Information