MIAMI—Commercial real estate lender Hunt Mortgage Group is especially active on the Florida multifamily front this quarter. The company just inked loans for four multifamily assets in the Sunshine State.
"All four of these properties are in good condition, backed by seasoned sponsors, and are located in cities that are performing very well," Bill Papagno, director at Hunt, tells GlobeSt.com. The deals, which include financing for Morningside Bay Apartments, Villas at Pembroke Pines, Parkview Apartments, and Country Club 25 Apartments, beef up Hunt's Florida Small Balance portfolio. The firm takes on some interesting deals in the state.
Hunt provided a $1.3 million Fannie Mae loan to refinance Morningside. Located at 5995 Biscayne Boulevard in Miami, Morningside Bay Apartments is a 24-unit multifamily property that was built in 1974 and has nine section 8 tenants.
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