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Hunt Lines Up Fannie DUS Financing for Ann Arbor Multifamily
Hunt Mortgage has arranged a $16-million Fannie Mae DUS Green Rewards loan to finance the acquisition of Woodchase Apartments, a 144-unit garden community in Ann Arbor, MI. The seller was not disclosed; the borrower was a partnership between Andover Real Estate Partners & M Group, LLC.
“The partnership currently owns and operates properties in Michigan and Ohio that totals approximately 850 units,” said Josh Mesier, managing director with Hunt Mortgage. Although the University of Michigan is a major driver of activity in Ann Arbor, “there is not a proliferation of students at this complex.”
The loan term is 15 years, interest-only for the first five years, with amortization based on a 30-year schedule. Matt Shane, senior managing director with Q10|Lutz Financial Services, arranged the financing. Built in 1998, the 11-building complex is currently 98% occupied.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

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