Hunt Refinances MF For Long-Time Owner

BALA CYNWYD, PA—Hunt Mortgage Group has provided a $4.6 million Freddie Mac conventional loan facility to refinance a multifamily property in Bala Cynwyd, PA that’s had the same owner for nearly 55 years.

Located at 121 and 125 Montgomery Avenue, Pembroke Apartments consists of two residential buildings containing 32 units, owned since construction by Tepper Properties, Inc., a Pennsylvania corporation, backed by Joan Tepper.  The buildings were developed in 1961 and 1962 with 32,935 square-feet of rentable space, situated on a 1.146-acre parcel of land.  Pembroke was renovated in 2009, and offers two studio units, nine one-bedroom apartments, 13 two-bedroom units, seven three-bedroom apartments and one four-bedroom unit. The property also offers 42 open parking spaces.