Hunt Mortgage Group Facilitates Refi of Strategic Texas Portfolio

The bridge loan will be used to refinance a 920-unit multifamily portfolio.
Multifamily community in Temple, Texas

Multifamily community in Temple, Texas

New York and TexasHunt Mortgage Group has provided a $33.8 million bridge loan for the refinancing of a multifamily portfolio located throughout Texas.

The Strategic Texas Portfolio comprises five communities with a total of 920 garden-style apartment units.

The loans range in size from $4.5 million to $9.5 million and are structured with an 18-month term, with the possibility of three- or six-month extensions.

Paul Angle, managing director at Hunt Mortgage Group, stated that the undisclosed borrower has a long track record of successful value-add projects, currently managing a multifamily portfolio of more than 32 properties throughout California and Texas.

“The borrowers are seasoned commercial real estate investors who are also repeat Hunt Mortgage Group clients”, said Angle in a prepared statement. “They purchased these five properties as part of a larger 22‐property multifamily portfolio in an off‐market transaction that closed in 2014.”

Image courtesy of Hunt Mortgage Group