Hunt Ramps Up Activity in Micro Multifamily Loans
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]
