New York, NY — September 19, 2026 — Lument announces today the closing of a $13.3 million Freddie Mac affordable multifamily loan for the acquisition of Skytop Apartments, a 192-unit, low-income housing tax credit (LIHTC) garden apartment complex in Conroe, Texas. Lument’s Derek DeHay, managing director of affordable housing investment sales, and Aniekan Udoh, director of affordable housing debt origination, led the transaction.
The sponsor, Artisan American, is experienced in developing and managing more than 1,500 LIHTC units and multiple seniors housing communities across Texas. Vernon Young, principal of Artisan American, said, “Lument’s affordable housing expertise and attention to detail resulted in a smooth transaction and a fantastic outcome for the Skytop Apartments acquisition.”
“We worked collaboratively with the affordable housing investment sales team to navigate the choppy waters of rising treasury yields and an adverse property tax reassessment to close the deal, ensuring that the sponsor received maximum loan proceeds,” said Lument’s Udoh.
The Freddie Mac loan was structured as a 10-year floating-rate transaction with 36 months of interest-only payments and a 35-year amortization schedule.
“We were able to find the right purchaser that valued the strong performance of the Conroe market, the growth potential in this area, and a well-managed LIHTC property that will continue to provide quality affordable housing for the community,” DeHay added.
Skytop Apartments was built in 2011 and includes 192 garden apartments in a gated community with a resort pool, fitness center, and playground amenities. It is located within the Houston MSA, the second-fastest growing metro in the United States.
About Lument
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 offers Fannie Mae, Freddie Mac, FHA, USDA, and balance sheet financing, as well as a full suite of capital market lending products. In addition, Lument provides a suite of real estate advisory solutions including real estate investment sales, investment banking, and investment management solutions. The company has approximately 550 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 www.lument.com/.
