Dealmaker: Hunt Mortgage Group Provides $27M in Washington, Texas

Hunt Mortgage Group, New York, provided $22 million in Freddie Mac small balance loan program funds for five Vancouver, Wash. apartment properties.  

The borrower, sponsored by NBP Capital LLC, is based in Portland, Ore. Hunt provided an $11.76 million short-term bridge loan for The Park at Fox Pointe, a 200-unit property built in 1972. The firm also provided $9.8 million for four assets, Wellington Court Townhomes, St. John’s Park Apartments, Oak Park Apartments and Greystone Park Apartments.

Wellington Court received $4.1 million, St. John’s Park received $3.1 million, Oak Park received $1.2 million and Greystone Park received $1.4 million.  

The ten-year fixed loans all have 30-year amortization after three years of interest-only payments.

The Mortgage Bankers Association will host a Small Balance Lending Summit June 22 and 23 at the Loews Chicago O’Hare Hotel. Click here for more information.

In Dallas, Hunt Mortgage Group provided $5 million to St. James Redevelopment to refinance Casa Place Apartments. The 10-year Fannie Mae loan included a 25-year amortization schedule and a 9.5 year yield maintenance period. 

St. James Redevelopment acquired the 194-unit property in 2004. Hunt Mortgage Group Managing Director Steven Cox said St. James invested significantly to “extensively” renovate the property over the past two years.

“Casa Place is performing well and in excellent condition due to the recently completely renovation,” Cox said.