Blunn Creek Apartments

January 25, 2019 Comments Off on Hunt RE Capital Finances Affordable Deal for Avanath Views: 2001 Austin, Texas News

Hunt RE Capital Finances Affordable Deal for Avanath

Hunt Real Estate Capital has provided a $19.5-million Fannie Mae affordable multifamily loan to a Texas LLC sponsored by Los Angeles-based Avanath Capital Management (ACM). The loan financed the acquisition of the 280-unit Blunn Creek Apartments, an affordable housing community at 701 Woodward St. in Austin.

“ACM is a California-based investment firm that acquires, renovates, and operates apartment properties with an emphasis on affordable and workforce communities,” said Paul Weissman, senior managing director and head of originations for affordable housing finance at Hunt Real Estate Capital.

Hunt was able to provide four-years of interest only payments on this transaction.

“The borrower has allocated approximately $2 million in funding for a variety of interior and exterior improvements,” added Weissman. “We were pleased to partner with this qualified sponsor on such a nice property to offer residents of Austin a solid opportunity for affordable housing.”

Connect With Hunt Real Estate Capital

Subscribe to Connect Daily Texas

For comments, questions or concerns, please contact Paul Bubny

Tags: , , ,

Comments are closed.

Send this to a friend