$12M Loan Obtained for Cedar Ridge Townhomes Buy

Hunt Real Estate Capital provided Fannie Mae DUS conventional acquisition financing of $12 million for the 124-unit Cedar Ridge Townhomes in Arlington, TX. The borrower/buyer of the asset at 2082 Knoll Crest Dr. was not released. Records show that the buyer was Illinois-based Landmark at Polk LLC, and the seller was Cedar Ridge 44 Townhouse LLC of Granbury, TX.

The property is funded under Fannie Mae’s Green Rewards program, with the new owner planning energy efficiency and unit upgrades, and exterior repairs. “The borrowers are new Hunt Real Estate Capital clients, but they have extensive real estate experience,” said Hunt Real Estate Capital’s Josh Messier, Messier added that the borrower already owns a 447-unit, seven-property Dallas-Fort Worth portfolio.

Cedar Ridge Townhomes consists of 31 two-story buildings on 7.9 acres. The property delivered in 1980, and includes a swimming pool, playground, barbecue grills, picnic area, playground and dog park.

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