February 11, 2019
New York-based Hunt Real Estate Capital provided a Fannie Mae conventional multifamily loan in the amount of $35.6 million to finance the acquisition of a multifamily property located in Jacksonville, FL. Integra River Run is a 300-unit, garden-style apartment complex comprised of 12, two-and four-story buildings.
The borrower is Birmingham, AL-based EBSCO Integra River Run, LLC, which will acquire the property from Integra Riverside, LLC. The buyer is a wholly-owned subsidiary of EBSCO Income Properties, LLC.
The non-recourse Fannie Mae loan has a 10-year term with five-years of interest only, and will amortize over 30 years. Integra at River Run is located in an established area of Jacksonville 10 miles north of the Jacksonville CBD.
For comments, questions or concerns, please contact Dennis Kaiser