Hunt Mortgage Group Facilitates the Acquisition of Five Multifamily Properties Located in Vancouver, Washington
Total Funding Equals $22 million
(firmenpresse) - NEW YORK, NY -- (Marketwired) -- 04/07/16 -- Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today that it has provided the funding to facilitate the acquisition of a five property multifamily portfolio located in Vancouver, Washington. Hunt Mortgage Group used the Freddie Mac small balance loan program for $9.8 million to purchase four of the assets and to provide a short term bridge loan of $11.76 million to purchase the fifth, a total price of $22 million
The borrower is sponsored by NBP Capital, LLC, a Delaware limited liability company backed by Lauren Noecker and Spencer Noecker. The borrowing entity is based in Portland, OR.
The financing on the loans is a ten-year fixed term with 30-year amortization (after three years of interest only) and yield maintenance prepayment. The deals include:
"The Noeckers are stellar repeat clients. The purchase was planned for 2015 but the seller requested a 2016 close and we needed to execute on a specific date," commented Bryan Cullen, Managing Director with Hunt Mortgage Group. "The small loans were ready to go but Park at Fox Pointe was not able to execute, so we funded a short-term loan until we could put into place a permanent Agency loan."
The properties are located in Vancouver, Washington, in the Portland-Vancouver-Hillsboro Metropolitan area. The region has a diversified economy that closely reflects the solid business conditions for the area.
Brad Willson of Marcus & Millichap Capital Corporation remarked "I have placed nine Freddie Mac small loans with Hunt Mortgage Group in just the last year and it is a superior product for loans under $5 million in the top markets."
Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc., is a leader in financing commercial real estate throughout the United States. The Company finances all types of commercial real estate: multifamily properties (including small balance), affordable housing, office, retail, manufactured housing, healthcare/senior living, hospitality, industrial, and self-storage facilities. It offers Fannie Mae, Freddie Mac, HUD/FHA in addition to its own Proprietary loan products. Since inception, the Company has structured more than $20 billion of loans and today maintains a servicing portfolio of more than $11 billion. Headquartered in New York City, Hunt Mortgage Group is comprised of 158 employees located in 17 locations throughout the United States. To learn more about Hunt Mortgage Group, visit .
Brent Feigenbaum
Hunt Mortgage Group
212-317-5730
Pam Flores
773-218-9260
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Datum: 07.04.2016 - 07:00 Uhr
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News-ID 1426654
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