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Hunt Ramps Up Activity in Micro Multifamily Loans

South Florida

Commercial real estate lender Hunt Mortgage Group, led by director Bill Papagno, just inked loans for four multifamily assets in Florida: Morningside Bay Apartments (pictured), Villas at Pembroke Pines, Parkview Apartments and Country Club 25 Apartments.

Hunt provided a $1.3M Fannie Mae loan to refi Miami's Morningside at 5995 Biscayne Blvd, GlobeSt reports. The property is 100% occupied and has maintained an average of 99% occupancy over the past year.

The lender also provided a $2.6M Freddie Mac loan to acquire Villas at Pembroke Pines at 6601 and 6661 SW 18th St in Tampa. The 40-unit garden-style complex was built in 1973, and sits on a 1.13-acre lot.

A $3.7M Freddie Mac loan financed the acquisition of Parkview Apartments, also in Tampa. The 100-unit property sits on 5.23 acres of land, and has a net rentable area of 104.4k SF. And finally, Hunt provided a Freddie Mac loan of $1.4M for the acquisition of the 13-unit Country Club 25 Apartments in Coral Springs.

Director Bill Papagno was hired in May of this year to lead the effort from the company's new Fort Lauderdale office. [GS]