NEW YORK, NY — Lument, the combined organization of Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group, announced that it has provided a $27 million Fannie Mae DUS® Conventional Multifamily loan to refinance construction debt for Las Vistas at Amelia, a 174-unit apartment community in Miami-Dade county.
Built in 2020, Las Vistas at Amelia is a workforce housing community designed to attract young professionals. The two-bedroom, two-bathroom apartments feature a modern design with ceramic tile flooring throughout, granite countertops in the kitchen and bathrooms, and state-of-the-art hurricane impact windows.
Located in Hialeah, Florida, the property quickly leased up post-construction, demonstrating its strong appeal to the community.
“Las Vistas at Amelia is a high-quality workforce housing community that plays an important role in the city of Hialeah by providing safe, first-rate housing for its residents,” said Marc Suarez, director with Lument.
The $27 million loan features a low, fixed interest rate, 15-year term, and 10 years of interest only, followed by a 30-year amortization schedule. In addition to paying off construction debt, the loan provides substantial proceeds to the sponsors.
“Refinancing construction debt with agency financing within a year of the new build is a noteworthy feat,” Suarez concluded. “Fannie Mae multifamily financing can be impressively efficient and an optimal permanent debt solution.”
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. For more information, visit www.lument.com.