Hunt Raises Cash For Bridge Loans

Wall Street keeps finding new ways to pour money into commercial real estate, as evidenced by Hunt Mortgage Group closing its first commercial real estate collateralized loan obligation.

“It provides the Company with a predictable and stable source of long-term non-recourse balance sheet financing, which will serve to supplement our existing warehouse lines,” commented James Flynn, president and chief investment officer at Hunt Mortgage Group.

The transaction will finance approximately $350 million of Hunt Mortgage Group-originated floating rate bridge loans, primarily for apartment properties. Hunt sold approximately $291 million in investment-grade notes to 15 different institutional investors. Hunt retained the first loss non-investment grade piece of just under 17%.

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