DALLAS—Commercial real estate lender Hunt Mortgage Group exclusively tells GlobeSt.com that it has recently provided more than $20 million in loans for two separate Dallas-Fort Worth area properties.
The company provided a $13 million bridge loan to finance the acquisition and rehabilitation of Brun Brae Apartments, located in Irving, and it has provided a conventional Freddie Mac loan in the amount of $8.6 million to refinance Midtown Arlington, student-housing property.
Burn Brae Apartments, located at 42 West Northgate Drive, is a 282-unit apartment community that was constructed in 1982, with 221,966 square feet of net rentable area situated on 11.83 acres. The property is a garden-style complex that is comprised of 13, two- and three-story residential buildings and three single-story, freestanding buildings that house the leasing office/clubhouse and two laundry facilities.
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