Hunt Mortgage Group Refinances a Multifamily Property Located in Tampa, Florida
— Total funding equals $39.8 million —
New York, NY — January 22, 2016 — Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today that it has provided a $39.8 million Freddie Mac loan to refinance a multifamily property located in Tampa, Florida.
The Preserve at Tampa Palms is a fully gated community that consists of 19, three-story apartment buildings, and a one-story clubhouse/leasing office building that includes a fitness center. Built in 2002, the Property is a 378-unit garden-style class A apartment complex situated on 44.01 acres of land.
The borrower purchased the property in July 2015 and is The Preserve at Tampa Palms LLC, backed by Mitchell B. Robbins, Steven R. Robbins and Joseph G. Lubeck and a major national real estate fund.
“Construction was completed in 2002 and The Preserve at Tampa Palms is in excellent physical condition,” commented John Beam, Managing Director of Hunt Mortgage Group. “The property is also well located just northeast of the Tampa Central Business District in a growing market that consistently supports demand for multifamily housing. We were pleased to facilitate this financing for a quality repeat customer.”
Property amenities include a swimming pool, playground, tennis court, dog park, picnic and BBQ areas. The property also offers 580 surface parking spaces, 107 attached garage spaces and 54 detached garage spaces.
The Preserve at Tampa Palms is in close proximity to restaurant and retail offerings and within commuting distance to downtown Tampa, as well as Tampa International Airport.
About Hunt Mortgage Group
Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc., is a leader in financing commercial real estate throughout the United States. The Company finances all types of commercial real estate: multifamily properties (including small balance), affordable housing, office, retail, manufactured housing, healthcare/senior living, hospitality, industrial, and self-storage facilities. It offers Fannie Mae, Freddie Mac, HUD/FHA in addition to its own Proprietary loan products including balance sheet, conduit and floating rate CLO financing. Since inception, the Company has structured more than $20 billion of loans and today maintains a servicing portfolio of more than $11 billion. Headquartered in New York City, Hunt Mortgage Group is comprised of 153 employees located in 17 locations throughout the United States. To learn more about Hunt Mortgage Group, visit www.huntmortgagegroup.com.