Hunt Real Estate Capital announced that it provided a $14.2 million Fannie Mae loan to finance the acquisition of a multifamily property located in Marietta, Georgia. The financing was arranged by Fairchild US LLC, which is based in Charleston, South Carolina.
The property is View 75, a 214-unit, garden style apartment complex located at 1035 Franklin Road that was built in 1970. “The Sponsor intends to upgrade the property amenities and unit interiors,” noted Keith Morris, Director at Hunt Real Estate Capital.
“The sponsor is a seasoned commercial real estate investor that is also a repeat Hunt Real Estate Capital customer,” added Morris. “They are well experienced with this asset class and we were pleased to deliver on this loan for a quality client.”
View 75 is located within the Atlanta MSA. Atlanta is recognized as one of the fastest growing cities in the United Statesand is a top business city and primary transportation hub of the southeastern region of the United States. Accessibility to the property is excellent as I-75, extends through the neighborhood and connects with I-285, approximately three miles southeast of the property.