New York, NY – Lument recently provided a $9.4 million Freddie Mac conventional multifamily loan to refinance The Stratford Apartments in Beaverton, Oregon. The apartment community is a six-building, 65-unit garden-style complex managed by Princeton Property Management, Inc., which manages 60 properties and more than 3,000 units in the Portland metropolitan area. The transaction was led by Sergey Klimov, director at Lument.
“The borrowers are seasoned commercial real estate and multifamily investors, as well as repeat Lument and Freddie Mac clients,” noted Klimov. “The Stratford Apartments are recently renovated and well-situated in one of Portland’s major retail hubs – both factors contribute to its 100% occupancy rate.”
The Freddie Mac loan was sourced by Steven Wiltshire, managing director at AMF Capital. The loan features a 10-year term, 30-year amortization period, and five years of interest only.
The Stratford Apartments were constructed in 1988. Community amenities include a clubhouse fitness center, pet play area, spa, and a property manager on site.
About Lument 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.