November 18, 2019
Hunt Real Estate Capital provided $19.7 million in Fannie Mae Green Rewards loans to finance the acquisition of a three-property multifamily portfolio in Pennsylvania’s Delaware County, within the Philadelphia metro area. The three separate loans all have 12-year terms.
The deal was brought to Hunt Real Estate Capital by George Johnson at Rittenhouse Capital Advisors. The sponsors of the acquisition are James Robertson, Matthew Robertson, and Robert Roskamp.
Totaling 189 units, the properties include Springfield Place Apartments and Rolling Green Apartments in Springfield, PA; and Media Towers Apartments in Media, PA. At 103 units, Rolling Green is the largest of the three complexes. Both Springfield properties were developed in the 1960s,while Media Towers dates from 1973.
“Both Springfield and Media are located within the Philadelphia MSA in strong, infill locations,” said Harris Heller, Philadelphia-based managing director at Hunt Real Estate Capital.
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