NEW YORK, NY — Lument, a national leader in commercial real estate finance, announced today that it provided an $11 million Fannie Mae conventional multifamily loan to refinance Martha’s Apartments, a garden-style multifamily property in Hialeah, Florida, in Miami-Dade County.
“We were thrilled to help this first-time Fannie Mae borrower obtain beneficial agency financing at attractive terms,” said Marc Suarez, Director at Lument. “By locking in a low interest rate for a 10-year term, the property will be well-positioned and the sponsor can continue to grow its multifamily portfolio in Florida. This property is a great model of true workforce housing in the largest workforce housing submarket in Miami-Dade County.”
The $11 million Fannie Mae loan features a low fixed interest rate, a 10-year term, and a 30-year amortization schedule.
Originally built in 1994, Martha’s Apartments consist of 132 units in five two-story buildings. The sponsors have been successfully owner-managing the property since its construction and will continue to do so. The sponsors have over 40 years of experience and have built and managed several apartment complexes.
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance. As the combined organization of legacy industry experts Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, Lument 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, investment banking, and investment management solutions. Lument has approximately 600 employees in over 25 offices across the United States. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities, member FINRA/SIPC. For more information, visit www.lument.com.