Hunt Real Estate Capital announced today it provided a Fannie Mae conventional multifamily loan in the amount of $7.65 million to finance the acquisition of a multifamily portfolio located in Fairfield, Ohio.
Fairfield Apartments is a 172-unit, garden-style apartment portfolio comprised of five different properties within 21 buildings located within a 3.4-mile radius across Fairfield. The properties were constructed in different years.
The borrower is Fairfield Property Holdings, LLC, a single-purpose, Ohio Limited Liability Company. The loan has a 12-year term with three years of interest-only, amortizing over 30 years.
“The borrower began investing in multifamily properties in 2016 and currently owns four multifamily facilities consisting of 230 units. All of the properties are located within the greater Cincinnati area,” noted Dan Eibler, Director at Hunt Real Estate Capital. “The borrower is also a quality sponsor and a repeat Hunt Real Estate Capital client. We were pleased to partner with them again on this solid deal.”
The deal was brokered by correspondent, James Huff of C4 Financial based in Cincinnati Ohio.
Fairfield Apartments is located within the Cincinnati MSA, one of the Midwest’s fastest-growing metro areas, with a diversified economic base that includes manufacturing, wholesale and retail trade, insurance and finance, health services, and transportation.