NEW YORK, Jan. 19, 2021 /PRNewswire/ — Lument, a nationwide chief in industrial actual property finance, introduced in the present day that it offered an $11 million Fannie Mae standard multifamily mortgage to refinance Martha’s Residences, a garden-style multifamily property in Hialeah, Florida, in Miami-Dade County.
“We had been thrilled to assist this first-time Fannie Mae borrower acquire helpful company financing at engaging phrases,” mentioned Marc Suarez, Director at Lument. “By locking in a low rate of interest for a 10-year time period, the property might be well-positioned and the sponsor can proceed to develop its multifamily portfolio in Florida. This property is a good mannequin of true workforce housing within the largest workforce housing submarket in Miami-Dade County.”
The $11 million Fannie Mae mortgage includes a low mounted rate of interest, a 10-year time period, and a 30-year amortization schedule.
Initially in-built 1994, Martha’s Residences encompass 132 models in 5 two-story buildings. The sponsors have been efficiently owner-managing the property since its development and can proceed to take action. The sponsors have over 40 years of expertise and have constructed and managed a number of residence complexes.
About Lument
ORIX Actual Property Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Company USA. Lument is a nationwide chief in industrial actual property finance. Because the mixed group of legacy business specialists Hunt Actual Property Capital, Lancaster Pollard, and RED Capital Group, Lument delivers a complete set of capital options custom-made for buyers in multifamily, inexpensive housing, and seniors housing and healthcare actual property. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. As well as, Lument affords a collection of proprietary industrial lending, funding banking, and funding administration options. Lument has roughly 600 workers in over 25 places of work throughout america. Securities, funding banking, and advisory companies are offered by OREC Securities, LLC, d/b/a Lument Securities, member FINRA/SIPC. For extra info, go to www.lument.com.
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