Richland Village Apartments was built in 1980 and is a garden-style multifamily complex located at 9999 Walnut St. It is comprised of 13 two-story residential buildings with a total of 216 units, plus a leasing office. Property amenities include two common laundry rooms, two tennis courts, an outdoor pool, covered parking structures, carports and concrete-paved parking/access area. Hunt Mortgage Group provided a $7.5 million loan to refinance this property.

The Fannie Mae loan terms on both financings include a 10-year fixed-term, five-years interest-only, followed by 30-year amortization schedule and a 9.5-year yield maintenance period.

On two smaller properties, the Freddie Mac small balance program allowed sponsorship to realize similarly favorable economic terms. Both Freddie Mac loans included deferred collection of replacement reserves, repairs and insurance escrows.

Briarwyck Apartments is a 112-unit property located at 10110 Walnut St. Hunt Mortgage Group provided a $4.35 million loan to refinance this property and pay off maturing, securitized financing.

Garden Plaza Apartments is a 102-unit property located at 2701 West Pioneer Dr. in Irving, TX. Hunt provided a $3.9 million loan to refinance this property and retire a maturing, securitized loan.

“These are fully occupied workforce housing properties and the neighborhoods have experienced recent positive growth,” Wilemon tells GlobeSt.com. “The transactions fit nicely within Fannie Mae conventional and Freddie Mac SBL program parameters.”

DALLAS—The metro's overall commercial real estate markets continued at record paces in the first quarter. However, within both the office and multifamily sectors, the question of peaking and overbuilding has been raised recently as rents are reaching all-time highs, according to Q10 Kinghorn, Driver, Hough.

As part of that fever pitch level of transactions, Hunt Mortgage Group recently provided $36.7 million in Fannie Mae and Freddie Mac loans to refinance four multifamily properties located in the Dallas metro. An interesting twist to these loans was that each were structured for the same sponsor.

“Sponsorship is a seasoned multifamily owner and investor who lives in California but successfully operates multiple apartment assets in Dallas,” noted Larry Wilemon, vice president at Hunt Mortgage Group. “Quantum Capital Partners provided comprehensive mortgage banking services to the borrower. The Quantum team's assistance was invaluable in identifying the best capital markets execution for the sponsor and facilitating all four closings.”

Located at 12222 Quail Dr. in Balch Springs, TX, Glenshire Villas Apartments is a garden-style multifamily facility comprised of 484 units housed in 89 two-story residential buildings. Hunt Mortgage Group provided a $21 million loan to refinance this property. The property was originally acquired by the sponsor in 2007.

Richland Village Apartments was built in 1980 and is a garden-style multifamily complex located at 9999 Walnut St. It is comprised of 13 two-story residential buildings with a total of 216 units, plus a leasing office. Property amenities include two common laundry rooms, two tennis courts, an outdoor pool, covered parking structures, carports and concrete-paved parking/access area. Hunt Mortgage Group provided a $7.5 million loan to refinance this property.

The Fannie Mae loan terms on both financings include a 10-year fixed-term, five-years interest-only, followed by 30-year amortization schedule and a 9.5-year yield maintenance period.

On two smaller properties, the Freddie Mac small balance program allowed sponsorship to realize similarly favorable economic terms. Both Freddie Mac loans included deferred collection of replacement reserves, repairs and insurance escrows.

Briarwyck Apartments is a 112-unit property located at 10110 Walnut St. Hunt Mortgage Group provided a $4.35 million loan to refinance this property and pay off maturing, securitized financing.

Garden Plaza Apartments is a 102-unit property located at 2701 West Pioneer Dr. in Irving, TX. Hunt provided a $3.9 million loan to refinance this property and retire a maturing, securitized loan.

“These are fully occupied workforce housing properties and the neighborhoods have experienced recent positive growth,” Wilemon tells GlobeSt.com. “The transactions fit nicely within Fannie Mae conventional and Freddie Mac SBL program parameters.”