VOORHEES, NJ—Hunt Mortgage Group has provided a $46 million Freddie Mac loan facility to refinance the Village at Voorhees Apartments, a multifamily property located in Voorhees, NJ.
Village at Voorhees Apartments is an 856-unit, garden style apartment complex located at 10 Lucas Drive. Voorhees is adjacent to Cherry Hill and about 16 miles southeast of the Philadelphia central business district.
The term of the loan is 10 years with a 30-year amortization schedule. The financing was structured utilizing both the Freddie Mac Index Lock program and the Freddie Mac 120-day ERL Program – two loan structures Hunt began offering earlier this year. The borrower is a New Jersey limited partnership. The deal team at Hunt included Cox and Michael Powell, originator.
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