May 1, 2019
Hunt Real Estate Capital has provided a $33.2-million Freddie Mac multifamily loan to refinance a Dayton, OH property. The ownership of the newly-constructed Water Street Residential is a partnership of two single-purpose limited liability companies.
The 15-year loan was originated, and the borrower was represented by, MSF Real Estate Capital, based in Dublin, OH. MSF’s Chad Kiner and A.J. Mangan led the team that placed the loan with Hunt Real Estate Capital.
“Water Street Residential was built in two phases in 2015 and 2018, and is in excellent physical condition,” noted Greg Cazel, managing director at Hunt Real Estate Capital. “The second phase of the property leased up faster than expected, and the property has quickly become a desired place to live.”
Cazel added that the borrower has more than 40 years of real estate development, acquisition, disposition and management expertise.
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