June 19, 2019
Hunt Real Estate Capital provided a Fannie Mae conventional multifamily loan of $7.65 million to finance the acquisition of a multifamily portfolio in Fairfield, OH, within the Cincinnati metro area. The borrower is Fairfield Property Holdings LLC.
The loan has a 12-year term with three years of interest-only, amortizing over 30 years. James Huff of C4 Financial in Cincinnati brokered the deal.
“The borrower began investing in multifamily properties in 2016, and currently owns four multifamily facilities consisting of 230 units. All of the properties are located within the greater Cincinnati area,” noted Dan Eibler, director at Hunt Real Estate Capital. “The borrower is also a quality sponsor and a repeat Hunt Real Estate Capital client.”
Fairfield Apartments is a 172-unit, garden-style apartment portfolio comprised of five different properties within 21 buildings located within a 3.4-mile radius across Fairfield. The properties were constructed in different years.
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