January 31, 2020
Hunt Real Estate Capital provided two Freddie Mac conventional loans totaling $18.3 million to refinance two multifamily properties located in Michigan for the same sponsor, ROCO Real Estate LLC. Both loans have a 10-year term with a 30-year amortization period.
“The borrower is a repeat Hunt Real Estate Capital and Freddie Mac client that is well versed in a range of commercial real estate and multifamily investing,” said Josh Messier, managing director at Hunt Real Estate Capital. “Both properties are performing well and are located in close proximity to both employment centers and major roadways.”
Hunt provided a $9.3-million conventional Freddie Mac Multifamily loan to refinance Waverly Place Apartments, a 228-unit community in Kalamazoo, MI.
Additionally, Hunt provided a $9-million conventional Freddie Mac Multifamily loan to refinance Bancroft Luxury Apartments in Saginaw, MI. It’s a renovated historical property with 152-units situated in two six-story apartment buildings.
Pictured: Waverly Place Apartments.
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