Hunt Mortgage Group Provides $40M Loan for Mixed-Use Luxury Property in Columbus
- Mar 23, 2016
Columbus, Ohio—Hunt Mortgage Group has secured a $40 million Freddie Mac loan to finance a mixed-use upscale community located in downtown Columbus, Ohio. The two six-story buildings feature a mix of residential and retail space.
Built by Carter Real Estate in 2014, Highpoint on Columbus Commons offers 301 apartment units, with studio, one- and two-bedroom floorplans and 23,302 square feet of retail space. The community’s location at 190 S. High St. offers convenient access to the city core, walking distance to entertainment venues, as well as easy access to local expressways.
Highpoint on Columbus Commons features a range of luxury amenities such as underground parking, 24-hour controlled access, a swimming pool and outdoor barbeque area overlooking the Commons, Wi-Fi in common areas and a 24-hour fitness facility. Monthly rents range between $835 for a studio apartment and $2,985 for a two-bedroom apartment.
The borrower is backed by Robert Weiler, Sr. and Donald Kelley. The mixed-use property was financed with a 10-year, fixed rate loan secured by a first lien that refinanced the construction loan.
“The Weiler and Kelley families are well-known real estate investors in Columbus and Hunt Mortgage Group is proud to have them as clients,” Keith Morris, vice president at Hunt Mortgage Group, said in prepared remarks. “The Property has an excellent and unique location adjacent to Columbus Commons, which is an amazing amenity for the tenants and downtown residents.”
Images courtesy of Highpoint on Columbus Commons