Hunters Woods Gets $8.5 Million Refinancing Loan

RESTON, VA-The 22-year-old Hunters Woods Fellowship House has received an $8.49 million refinancing loan under its Fannie Mae DUS product line from Uniondale, NY-based Arbor Commercial Mortgage LLC. Hunters Woods is a 224-unit housing complex on Colts Neck Road that caters to seniors and people with disabilities who have limited income. Hunters Woods is owned by a qualified 501C3 entity.

“This was a very interesting and complex transaction,” Regional Director of Arbor’s Mid-Atlantic office Ridgely W. Potter explains in a statement. The loan is a 17.25-year loan and is fully amortizing with a note rate of 7.46%. In January, the Fairfax County Board of Supervisors approved the issuance and sale of tax-exempt revenue bonds by the Fairfax County Redevelopment and Housing Authority for the rehabilitation of the structure’s 224 one-bedroom apartments.