NEW YORK, January 10, 2022 / PRNewswire / – Lument provided a $ 48.8 million Freddie Mac conventional loan to refinance Sanctuary at 331, a luxury multi-family community of 264 units in Santa Rosa Beach, Florida. Managing Director of Lument Steve beltran conducted the transaction.
“We were delighted to work with Freddie Mac to refinance this property on that of Florida Economically vibrant Emerald Coast, “Beltran said.” This loan was refinanced from a HUD contract and met all of our client’s goals, including a low fixed interest rate and 60 months of payments. ‘interest only. “
The total loan amount of $ 48.8 million has a duration of 10 years and an amortization of 30 years. The property is currently managed by Cushman and Wakefield Property Management.
The loan sponsor is a subsidiary of Hunt Companies, currently the fourteenth largest owner of multi-family homes in the country according to the NMHC Top 50. Hunt has more than 4,900 units at market rates under asset management and has built more than 118 000 units. The company and its subsidiaries also manage more than 77,000 affordable units and 51,000 military housing units.
Sanctuary at 331 is an 11-building garden-style community that is set on nearly 32 acres and currently maintains 97% occupancy. Units feature stainless steel appliances, private patios, scenic views, and built-in washers / dryers. Common areas include a 24-hour fitness center, swimming pool and jacuzzi, clubhouse, dog park and garages.
ORIX Real Estate Capital Holdings, LLC, d / b / a Lument, is a subsidiary of ORIX Corporation United States. Lument is a national leader in commercial real estate financing. As a combined organization of traditional industry experts Hunt Real Estate Capital, Lancaster Pollard and RED Capital Group, Lument offers a comprehensive set of tailor-made capital solutions for investors in multi-family, affordable, senior housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA and USDA lender. In addition, Lument offers a range of exclusive commercial lending, investment banking and investment management solutions. Investment advisory services are provided by OREC Investment Management, LLC, d / b / a Lument Investment Management. OREC Investment Management is registered as an investment advisor with the United States Securities and Exchange Commission. For more information visit www.lument.com.
Michael ratliff | Marketing director
212-588-2163 | [email protected]