July 30, 2019
Hunt Real Estate Capital has secured a $9.4 million Fannie Mae conventional multifamily loan to refinance Orduna Court, a 24-unit student housing property in Coral Gables.
Located at 800 S. Dixie Highway, the property was built in 1982 as condominiums but was acquired in 2017 by the borrower, a local investor. The property was converted to student housing in 2017 after a $2.1 million renovation. Amenities include a pool, sundeck and covered parking.
The Aztec Group brokered the transaction on behalf of the borrower. The property was 92% leased at closing for the 2019-2020 school year.
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Tags: Student Housing