HSL Lands $22M Refi for Phoenix Asset
- Apr 03, 2017
Phoenix—Hunt Mortgage Group has arranged a $21.5 million refinancing deal for Desert Sands Apartment Homes, a 232-unit multifamily property located in Casa Grande, Ariz. The company secured the Fannie Mae loan on behalf of HSL Properties Inc. The 10-year loan has a 30-year amortization schedule, with yield maintenance applying during the first 9.5 years.
Located at 720 W. O’Neil Drive, the garden-style community was completed in 2008 and consists of 31 one- and two-story residential buildings, as well as leasing office and clubhouse. Property amenities include a gated entry, a 24-hour fitness center, two swimming pools with heated spas, a playground, a basketball court, a picnic area and covered parking.
“HSL is a seasoned multifamily owner-operator with more than 40 years of industry experience. They acquired the property in 2010 during the national economic downturn, and have done a tremendous job improving operations over the last 6+ years. We are excited to continue growing our relationship with such a distinguished sponsor,” Vic Clark, senior managing director & national production leader at Hunt Mortgage Group, said in a prepared statement.
Images courtesy of HSL Asset Management LLC