Hunt Mortgage Group Facilitates the Acquisition of a Multifamily Property Located in Fort Worth, Texas
New York, NY — September 9, 2014 — Hunt Mortgage Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced today that it has provided a Fannie Mae loan to facilitate the acquisition of The Villas at LeBlanc Park, a multifamily property located in Fort Worth, Texas.
The Villas at LeBlanc Park is a garden style apartment community comprised of ten, two- and three-story apartment buildings containing a total of 168 units. The buildings were developed in 1985 on a 6.88 acre parcel of land. The property has 24 one-bedroom, one-bathroom units, 64 two-bedroom, one-bathroom apartments, and 80 two-bedroom, two-bathroom units.
The borrower is Villas LeBlanc LLC, a Delaware Limited Liability Company. The loan is a standard delivery and the loan term is 10 years with amortization based on a 30 year schedule, with two years interest only.
“John Whitman is a repeat Centerline and now Hunt client and the main principal involved in the deal. John is a seasoned industry executive with more than 25 years of experience in commercial real estate investing,” said Vic Clark, Managing Director at Hunt Mortgage Group. “The property is well managed and benefits from good visibility and drive-by appeal. This was a solid deal for Hunt and Aldwin.”
The Property will be managed by Aldwin Management, an owner affiliated management company that was founded in 2010 to invest in and manage multifamily properties. Aldwin currently manages six properties and nearly 1,500 units.
“Aldwin is pleased to add this asset to our Texas-focused portfolio. This is our second Fannie Mae transaction to close with the Dallas Hunt production team and we appreciate the timely and excellent debt delivery,” said Seth Weinroth, Aldwin Managing Director.
Unit features include standard appliances, microwave oven, breakfast bar, oak cabinetry, full-size washer/dryer connections, fireplace, 9' ceilings, ceiling fans, walk-in closets and a patio/balcony. Property amenities include a swimming pool, clubhouse, fitness center, dry sauna, playground, picnic areas, BBQ grills, laundry facility and access gates.
The Hunt Mortgage Group deal team included Vic Clark and Colin Cross.
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, bridge and CMBS lender, and source for other forms of alternative capital.
About Hunt Mortgage Group
Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc., is a real estate finance company providing financing and investing for conventional and affordable multifamily housing throughout the United States. Hunt Mortgage Group is organized around two business units: Conventional Multifamily and Affordable Multifamily. Under the Conventional Multifamily and Affordable Multifamily businesses, Hunt Mortgage Group partners with developers, owners, and investors to provide them with capital to develop, acquire or redevelop their real estate assets. Hunt Mortgage Groupʼs core debt products consist of Fannie Mae, Freddie Mac, or HUD/FHA financing. In addition, through several strategic alliances, Hunt Mortgage Group offers various CMBS executions for multifamily and other commercial properties, proprietary bridge loans and select joint venture equity products. Today the firmʼs lending platform manages and services more than $10.4 billion in loans, of which affordable housing makes up $916 million. Headquartered in New York City, Hunt Mortgage Group has 145 employees in 15 locations throughout the United States. To learn more about Hunt Mortgage Group, visit www.huntmortgagegroup.com.