New York, NY — September 11, 2025 — Lument announces today the closing of a $8.1 million Fannie Mae conventional multifamily loan for the acquisition of the Courtyard Apartments, a 123-unit multifamily community in Garland, Texas. Lument’s Nicholas Diamond and Oliver Herndon led the transaction.
“The experienced sponsor is a repeat client of both Lument and Fannie Mae, having collaborated on several past transactions with effective funding solutions that provided optimal results,” said Lument’s Diamond. “This time was no different, as the Fannie Mae loan provides beneficial permanent financing that positions Courtyard Apartments nicely for the coming years.”
The Fannie Mae loan has a seven-year term, full term interest only, standard yield maintenance pre-pay, and a 30-year amortization schedule.
Originally built in 1983, the community has eight two-story, garden-style buildings and a mixture of one- and two-bedroom apartments.
