Hunt

May 17, 2016 Comments Off on Hunt Provides Refi for Older Denver MF Views: 246 California News, Colorado, National News, West

Hunt Provides Refi for Older Denver MF

Hunt Mortgage Group provided a $5-million Freddie Mac Small-Balance loan to refinance a multifamily property in Denver. The property, at 831 & 861 Cherry St., was built in 1948 and has 38 units.

Property owner Emporia Co. obtained a seven-year fixed +13 Hybrid ARM loan, with a 30-year amortization and stepdown prepayment option. The borrower purchased the property in 2013, and executed a complete rehab and repositioning in 2014/2015. The loan provided substantial cash out for the reimbursement of their equity and some market appreciation.

“The sponsor is a new Freddie Mac and Hunt Mortgage Group borrower, and has a substantial amount of experience in the real estate industry,” commented Penny Newton, vice president in the Small Loan Group at Hunt Mortgage Group.

Read More at PR Newswire

Connect with Hunt’s Newton

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , ,

Comments are closed.