Hunt Mortgage Group Secures $45M in Ohio, Florida
Hunt Mortgage Group, New York, provided a $40 million Freddie Mac loan to finance a Class A mixed-use property in downtown Columbus, Ohio.
Highpoint on Columbus Commons was built in 2014 by Carter Real Estate, backed by Robert Weiler and Donald Kelley. The property’s two six-story buildings contain 301 apartment units and 23,300 square feet of retail space. The 10-year fixed-rate loan refinanced their construction loan.
“The Weiler and Kelley families are well-known real estate investors in Columbus,” said Hunt Mortgage Group Vice President Keith Morris. He noted that the property borders seven-acre public green space Columbus Commons.
In Florida, Hunt Mortgage Group provided $5.4 million in Freddie Mac small balance loans for two apartment properties, Casa Corsicana and Pembroke Apartments.
Sponsor Casa Corsicana LLC, backed by the Kula Family Revocable Trust, received $3.9 million for Casa Corsicana Apartments, a 53-unit property in Seminole. The seven-year fixed-rate loan includes two years of interest-only payments and a 30-year amortization with a stepdown prepayment schedule.
The prior property owners acquired Casa Corsicana in poor condition and invested $1.5 million in capital improvements to reposition it. Constructed in 1973, Casa Corsicana includes six single-story buildings on 3.85 acres.
Borrower Sunny Investments FL IV received a $1.5 million five-year hybrid adjustable-rate mortgage with one year of interest-only payments and a 30-year amortization with a stepdown prepayment schedule for Pembroke Apartments, a 24-unit property in Pembroke Pines.
