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Hunt Real Estate Capital Provides USD 9.9m Fannie Mae Loan to Finance Acquisition of Boston Multifamily Property
Thursday 14 November 2019

14 November 2019 - New York, US-based multifamily housing and commercial real estate finance firm Hunt Real Estate Capital provided a Fannie Mae conventional multifamily loan in the amount of USD 9.9m to finance the acquisition of a multifamily property located in Boston, Massachusetts, the firm said.
Navy Yard Apartments is a 47-unit, garden-style apartment community that was built in 1900. The property is comprised of two studios, 30 one-bedroom units, and 15 two-bedroom units.
The loan term is 10-years with full term interest-only payments.
Yield maintenance will apply during the first 114 months with a 1% prepayment thereafter with the last 90 days open.
The borrower is Serone Navy Yard, LLC, a newly formed, single asset entity.
Charlestown features landscaped parks and unique historical sites highlighted by The Bunker Hill Monument, Freedom Trail, and USS Constitution.
Navy Yard is also less than one mile from the Bunker Hill Mall, which features a variety of area conveniences including Whole Foods Market, CVS, Dunkin', and Ace Hardware.
Hunt Real Estate Capital, a division of Hunt Capital Holdings LLC, is in financing, investing and managing multifamily housing and commercial real estate.
HREC is a source of debt and equity capital for multifamily, affordable housing, manufactured housing, healthcare/senior living, retail, office, industrial, self-storage, and mixed-use assets through Fannie Mae, Freddie Mac, FHA, its own balance sheet and managed public and private investment vehicles.
HREC is the third largest multifamily property manager in the US.
Date Published: 14/11/2019
Target: Navy Yard Apartments
Country: USA
Deal Size: 9.9m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Buyer: Serone Navy Yard, LLC
Hunt Real Estate Capital provides financing