New York, NY — September 14, 2023 — Lument announced that it closed a $13.4 million Fannie Mae loan to refinance The Fordham at Eagle Springs, a luxury seniors housing community in Humble, Texas. Tom Dixon, a director in affordable housing production based in Charlotte, North Carolina, led the transaction for Lument.
The Fannie Mae loan has a 10-year term, four years of which are interest only, 30-year amortization, and a fixed interest rate.
The Fordham at Eagle Springs was built in 2020 and consists of six buildings housing 137 units. The age-restricted (55+) community offers attractive amenities, including a resort-style pool, salon, and coffee bar. Fordham is located within Eagle Springs, a prestigious Newland master planned community located in northeast Harris County. The community offers dining, nightlife, shopping, and an array of amenities and outdoor activities in a natural setting.
The sponsor has over 40 years of experience in multifamily ownership and development in the Houston area. The successful transaction marks the tenth closing between the sponsor and Lument.
“With such an experienced borrower, beautiful community, and exciting location, there is no doubt that The Fordham at Eagle Springs is well-positioned to thrive,” said Lument’s Dixon. “We were happy to help execute an efficient Fannie Mae refinance and look forward to watching Fordham’s future success.”
Lument, a subsidiary of ORIX Corporation USA, is a national leader in commercial real estate finance and delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, real estate investment sales, investment banking, and investment management solutions. The company has approximately 600 employees in over 30 offices across the United States. Securities, investment banking, and advisory services are provided through Lument Securities, LLC, member FINRA/SIPC. Lument Investment Management, LLC, is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit https://www.lument.com/.