Hunt Mortgage Group Provides Financing on Affordable and Student Housing Portfolio Located in Texas, Florida, and South Carolina

NEW YORK, March 12, 2018 /PRNewswire/ -- Hunt Mortgage Group, a leader in financing commercial real estate throughout the United States, announced today it has provided $187 million in financing for a portfolio of affordable and student housing properties in Texas, Florida, and South Carolina.

The loans include $102 million in variable rate taxable financing from Freddie Mac, $83 million in fixed rate tax exempt financing enhanced through Fannie Mae's M.TEB execution which uses an MBS security as collateral for a tax exempt bond issuance, and $2 million through a proprietary variable rate execution from Hunt Mortgage Group.  This was the first time the execution was used to finance student housing.  Hunt Mortgage Group provided additional project financing through its proprietary lending group for the remaining property.

The portfolio consists of over 3,500 units of affordable and student housing in 16 properties.  Many of the units are affordable to tenants at or below 60% of the area median income where the properties are located.  The sponsor plans to put well over $14 million back into the properties to make green and other improvements.        

The sponsor is the Atlantic Housing Foundation, whose mission is to promote and preserve quality affordable housing for low and moderate income families.    

"AHF is a seasoned multifamily group that has owned and developed affordable and student housing properties since 1999," commented Paul Weissman, Senior Managing Director at Hunt Mortgage Group.  "In addition to providing high-quality affordable housing to low and moderate income families, AHF has awarded nearly $5 million in collegiate scholarships to working families since 2006 and provided 15,000 hours of social service programming in 2017 alone," he continued, adding that "our organizations' mission alignment makes HMG and AHF a perfect partnership."

Michael Nguyen, the President and CEO of AHF added, "It was a pleasure working with Paul and his team at Hunt Mortgage Group.  Their intimate knowledge of the Fannie Mae and Freddie Mac processes helped pave the way for a successful, albeit very complicated transaction.  Their experience and capabilities showed as they work to anticipate issues and helped closed the financing under a very tight timeline."

About Hunt Mortgage Group

Hunt Mortgage Group, a wholly owned subsidiary of Hunt Companies, Inc., is a leader in financing commercial real estate throughout the United States. The Company finances all types of commercial real estate: multifamily properties (including small balance), affordable housing, office, retail, manufactured housing, healthcare/senior living, industrial, and self-storage facilities. It offers Fannie Mae, Freddie Mac, HUD/FHA in addition to its own Proprietary loan products. Since inception, the Company has structured more than $21 billion of loans and today maintains a servicing portfolio of more than $13.4 billion. Headquartered in New York City, Hunt Mortgage Group has 232 professionals in 25 locations throughout the United States. To learn more, visit www.huntmortgagegroup.com.

MEDIA CONTACTS
Brent Feigenbaum
Hunt Mortgage Group
212-317-5730
[email protected]

Pam Flores
773-218-9260
[email protected]

SOURCE Hunt Mortgage Group

Related Links

http://www.huntmortgagegroup.com