Reported by PR Newswire, Hunt Mortgage Group, top leaders in commercial real estate loans in Texas and across the United States, is helping refinance two properties in Texas. The Freddie Mac affordable multifamily loans total an investment of $205 million dollars.
Both of the commercial real estate loans in Texas are a 7-year loan term that comes with 24 months of interest-only payments, along with a 30-year amortization that start during the third year of the loan.
The first property, Red Hills Villas Apartments, is a garden style multifamily complex that has six building on their property that houses 168 units. The complex is occupied one hundred percent by low income residents located in Round Rock. The total commercial real estate loan in Texas is worth $13.8 million dollars. Red Hills Villas Apartments is hoping to use the money to make changes to the units and add more accommodations to better the living experience of the residents.
Champion Crossing Apartments also received a commercial real estate loan in Texas from Hunt Mortgage Group. The apartment complex is located in San Marcos, Texas and has 156 unites throughout a total of 13 buildings on the property. The loan totals $6.7 millions dollars and is being used to refinance Champion Crossing Apartments along with upgrading many features to deliver a better experience to their residents.
Both borrowers of the commercial real estate loans in Texas are experienced and Hunt Mortgage is eager to see the outcome
Hunt Mortgage Group is excited to lend a helping hand to two borrowers that have plenty of experience in the industry. Hunt Mortgage Group has plenty of experience working with customers like these two, totally $21 billion dollars of assets across the country. The group has 24 locations across the United States with their headquarters based in New York.
Commercial real estate loans in Texas continue to grow in Austin and the city is already seeing the benefits
Both of the locations that received commercial real estate loans in Texas from Hunt Mortgage Group are located near the excelling city of Austin. Red Hills Villas Apartments is only 20 miles north of the city! This gives plenty of shopping access to the residents along with being close by to the top schools in the area and large employment centers. It is a great location for residents, especially those looking to work for companies that deliver high technology services.
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC Private Hard Money Lender
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.
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