Hunt Mortgage Closes $14.7M Loan for Mixed-Income Dallas Community
- Jul 26, 2016
Fort Worth, Texas—Hunt Mortgage Group has provided a $14.7 million first mortgage bridge loan to Dallas-based Atlantic Housing Foundation to refinance a 176-unit mixed-income community in Fort Worth, Texas.
The loan is structured as a 12-month floating rate loan with two options to extend the term for a period of six 6 months each.
Located at 8515 John T. White Road, Silver Leaf Villas features four, three-story residential buildings, six two-story residential buildings, a one-story maintenance shop and a one-story leasing office/clubhouse situated on 7.8 acres of land. The property is located approximately 10 miles east of the Fort Worth central business district. Silver Leaf Villas was developed in 2000. According to Yardi Matrix, rents range between $888 for a 787-square-foot unit and $1,258 for a 1,185-square-foot unit.
Residential amenities at Silver Leaf Villas include a swimming pool, fitness center, laundry facility, picnic areas, dog park and a business center. The property also has 327 parking spaces, including 36 detached garages and 136 covered parking spaces.
Image courtesy of Yardi Matrix