Hunt Provides $23M Loans for Seattle Apartments
Hunt Mortgage Group has provided a total of $23.2 million in Fannie Mae loans to refinance three multifamily properties in the state of Washington. The private owner is based in Lakewood, WA, and has owned the assets for an average of 10 years.
Loan terms on all three facilities are 10 years, with a 30-year amortization and yield maintenance applying during the first 9.5 years. “All three of these properties are in excellent condition, and enjoy good visibility and accessibility located within, or just outside, the Seattle-Tacoma-Bellevue MSA,” said Hunt’s Jeffrey J. Ballaine.
The three refinanced assets were:
- The 145-unit Brighton Place Apartments, 8615 83rd Street Ct. S.W., Lakewood, WA
- The 186-unit Breckenridge Apartments, 2820 Tuscany Lane S.W., Tumwater, WA
- The 250-unit Breckenridge Heights Apartments, 1923 Brittany Lane S.W., Tumwater, WA
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