Lument Provides $25.1 Million in Fannie Mae Financing for Portfolio of Colorado Affordable Communities

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Jan 18, 2022, 08:30 ET

NEW YORK, Jan. 18, 2022 /PRNewswire/ -- Lument has announced the closing of five Fannie Mae conventional multifamily housing loans totaling $25.1 million to refinance five affordable housing communities within the Denver and Colorado Springs metropolitan areas. Lument Managing Director Andrew Ellis led the transactions.

The properties—known collectively as the Archway Portfolio—are managed by Archway Communities, a leader in providing affordable housing and services for low- to moderate-income individuals and families throughout Colorado. Archway Communities manages 10 properties housing over 1,500 residents with a mission to elevate lives by providing access to affordable housing, food security, and the supportive services people need to thrive. The five refinanced communities include a total of 368 units.

"We are excited to welcome Archway to Lument, working with them for the first time to secure Fannie Mae financing to recapitalize their five-asset portfolio," said Ellis. "This multi-property refinancing will provide Archway with lower interest rates, longer terms, and cash-out proceeds to fund renovations."

Fountain Ridge, the largest of the five properties, was issued a 10-year loan with a low, fixed interest rate and a 30-year amortization schedule. The other four loans also feature low, fixed interest rates and have 12-year terms, two years of interest-only payments, and 30-year amortization schedules.

"Each of these transactions had its own unique set of challenges and Lument did a great job helping Archway navigate to workable solutions in partnership with Fannie Mae and our other funders," said Sebastian Corradino, president and CEO of Archway Communities.

The communities in the portfolio all feature garden-style layouts and include Foothills Green, a 72-unit property in Lakewood; Willow Green, a 60-unit property in Arvada; Sheridan Ridge, a 65-unit property in Arvada; Arapahoe Green, a 60-unit property in Denver; and Fountain Ridge, 111 units in Fountain, Colorado.

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 sales, investment banking, and investment management solutions. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities, Member FINRA/SIPC. Investment advisory services are provided by OREC Investment Management, LLC, d/b/a Lument Investment Management. OREC Investment Management is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit www.lument.com.

MEDIA CONTACT
Tyler Howard | Associate Director
513-403-1911 | [email protected]

SOURCE Lument