April 28, 2017
New York-based Hunt Mortgage Group arranged $36.7-million in financing for the acquisition of three multifamily properties in Ohio, Illinois and Alabama. The assets were acquired by Bloomfield Hills, MI-based ROCO Real Estate.
The properties were financed through ROCO’s structured credit facility with Freddie Mac and Hunt. The transactions are structured as a five-year interest-only term at a variable rate based on the 30-day LIBOR.
Included in the transactions were:
- Fox Chase Apartments (pictured), a 304-unit apartment complex located in Holland, OH, near Toledo. Hunt provided a loan in the amount of $17.6 million.
- Knoxville Pointe Apartments, a 218-unit apartment complex in Dunlap, IL, near Peoria. Hunt provided a loan in the amount of $12.9 million.
- Huntsville Place Apartments, an 84-unit apartment complex located in Huntsville, AL. Hunt provided a $6.2 million loan.
For comments, questions or concerns, please contact Dennis Kaiser