August 20, 2019
Hunt Real Estate Capital has secured a $10.5 million loan to refinance Homestead Gardens I and II, a 148-unit, garden-style multifamily community in Homestead. The property is approximately 22 miles southwest of Miami.
The property consists of two locations at 15451 SW 288th St. and 527 S. Flagler. Homestead Gardens I is a two-story property with six buildings and 103 units, while Homestead Gardens II is a two-story property with five buildings and 45 units. The two locations share one leasing office.
Hunt secured the financing on behalf of borrower Sunny Collins LLC through Fannie Mae. The financing included a 10-year term with a 30-year amortization period, and 114 months of yield maintenance.
For comments, questions or concerns, please contact David Cohen