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Hunt Provides Fannie Mae DUS Loan for Hialeah MF
Hunt Real Estate Capital provided an $8.19-million Fannie Mae conventional loan to refinance a multifamily property located in Hialeah, FL. Oceanmar Park Apartments is a 104-unit, garden-style apartment community that was built in 1967 and consists of 26 two-story buildings.
The borrower is Oceanmar Park Apartments LLC, a Florida limited liability company. The 15-year loan is interest-only for the full term.
Hunt Real Estate Capital’s Marc Suarez says, “The property has been well maintained by the owner, and with this new loan facility, they plan to invest approximately $330,000 in capital improvements to upgrade the community.”
Planned improvements include painting, new appliances and air conditioners, a security system, new garbage enclosure, and repaving – all of which will be implemented over the next four years.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition
