Pebble Hills Apartments, El Paso, TX

December 4, 2018 Comments Off on Refinancing Obtained for 168-Unit Portfolio Views: 2295 Texas - Other, Texas News

Refinancing Obtained for 168-Unit Portfolio

Hunt Real Estate Capital arranged for two Freddie Mac Small Balance Loans totaling $4 million to refinance two multifamily properties in El Paso, TX. The borrower, Pamajest and Pamajest 2 LLC, is a Texas LLC overseen by Vincente Rodarte.

The refinanced properties are:

The 104-unit Pebble Hills Apartments at 10865 Edgemere Blvd., which is 98% occupied.

The 64-unit Veranda Apartments at 9800 Montana Ave., which is 97% occupied.

“The borrower is a new Hunt Real Estate Capital and Freddie Mac customer, but he has been involved in the investment and management of real estate properties since 1998, and has eight years of experience with multifamily properties,” said Hunt Real Estate Capital’s Steve Beltran. Beltran added that Rodarte and his sons own 204 multifamily units and four single-family units, all in El Paso.

Financing consisted of 10-year fixed-rate loans, with 30-year amortization schedules. The borrower bought both assets in 2010.

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