Hunt Real Estate Capital it provided a conventional Fannie Mae loan in the amount of $15.68 million to finance the acquisition of a multifamily property located in Baltimore.

The Park Raven Apartments is a vintage multifamily apartment community that consists of 253 multifamily units. The property was built in 1949, renovated in 2006, and is comprised of 23 two-story, garden-style apartment buildings.

The borrower will acquire the property from Park Raven Holdings LLC in an arm's-length transaction. The loan has a 15-year term with eight years interest-only followed by a 30-year amortization period.

The borrower is Park Raven DNB and is a repeat Hunt Real Estate Capital client. "To date, we have financed 15 multifamily apartment communities with the borrower, and these assets are located throughout North Carolina, Virginia, Delaware, New Jersey and Maryland," said Steven Cox, senior managing director at Hunt Real Estate Capital.

"The borrower has decided to finance the property under Fannie Mae's Green Reward program and plans to identify and implement various energy and water conservation measures on-site," said Cox. "The goal is to save over 30 percent of the combined water and energy usage at the property, including a minimum of 15 percent energy savings."

Park Raven is located around six miles northeast of the Baltimore Central Business District, four miles southeast of Towson and 32 miles southwest of Aberdeen. The immediate neighborhood has additional multifamily developments, as well as nearby commercial-retail establishments and educational facilities. The property also enjoys convenient access to the region's transportation infrastructure, and Park Raven residents are at the center of quality employment opportunities in the Baltimore metropolitan area.

Property amenities include centralized laundry facilities, on-site property management and 24-hour emergency maintenance.

Brickstone Partners and Deutsche Finance America have recapitalized of The Lodge at Boulder, a 220-unit, 355-bedroom student housing complex near the University of Colorado campus in Boulder.

Brickstone Partners purchased The Lodge property more than three years ago and began large scale renovations of many of the units and common spaces. The new partnership plans to complete renovations to the remaining unit interiors and finalize upgrades to the clubhouse, leasing office and mechanical systems.

The recapitalization of The Lodge marks the second joint investment between Deutsche and Brickstone. The first was the LakeHaus, a 200-unit luxury apartment community under construction in the Lake Calhoun neighborhood of Minneapolis.

To date, Deutsche has invested approximately $50 million with Brickstone and in 2019-20 they plan to invest $100 million of additional equity, primarily focused on an opportunistic student housing platform. Brickstone Partners is a real-estate investment and development firm operating in Colorado and Minnesota.

“I am looking forward to continuing our partnership with Brickstone and Dan Otis,” said Jason Lucas managing partner for North America of Deutsche. “The Lodge at Boulder offers our LP investors exposure to an asset in a premier university market with high barriers to entry.”

Hunt Real Estate Capital has provided a Fannie Mae DUS loan in the amount of $52 million to refinance a manufactured housing property located in the city of Sweetwater, Fla.

Li'l Abner is an all-age, 908-pad manufactured housing property. Sixty-four percent of the pads are intended for double‐wide homes, and the remaining 36 percent are for single‐family pads. The property has paved roads, off‐street parking and access to municipal utilities.

The borrower is Consolidated Real Estate Investments, who has owned and operated the property since acquisition in 1981. The borrowers are managing partners and key principals Nidia M. Montero and Raul F. Rodriguez. The loan is a 30-year fixed-rate loan with a 15-year interest only period amortizing over 30 years.

"Li'l Abner is well located with convenient access to the Dolphin Mall and Florida International University, as well as two major throughways that head into Miami, including the Florida Turnpike and State Road 826," said Marc Suarez, director at Hunt Real Estate Capital. "This is one of the most dynamic properties as it encompasses almost 105 acres in a densely populated area."

"My father acquired this asset almost 30 years ago with a great group of partners who are still part of this deal today," said Rodriguez. "We truly appreciate the team effort from all involved and the professionalism from Marc Suarez and his team at Hunt Real Estate Capital for providing us financing for another 30 years. Our biggest asset is our tenants who have made Li'l Abner the core fabric of the Sweetwater community."

Property amenities include a pool, management/maintenance office, mail facility, tennis courts and a playground.

"Raul Rodriguez and his family has been vested in this area for over 30 years and continue to provide quality affordable living for the residents in this area and other parts of Miami Dade county. We were pleased to have been able to finance this asset," said Suarez.

Hunt Real Estate Capital provided two Fannie Mae DUS loans totaling $8.84 million to refinance two multifamily properties located in Winchester, Va.

The loan term with both deals is 10-years. Yield maintenance will apply during the first 9.5 years with a 1% prepayment fee thereafter, with no fee due for the last 90 days.

The two properties include:

• Fay Street Apartments: Hunt provided a $4.6 million loan to refinance Fay Street Apartments, a 78–unit apartment community that is comprised of nine, two-story residential buildings. The property is situated on 2.77 acres of land. The two- and three‐bedroom units are all two‐level townhouse units. The property offers 130 parking spaces and has only one vacant unit.
• Fort Colliers Apartments:Hunt provided a $4.2 million loan to refinance Fort Colliers Apartments, a 72–unit apartment community that consists of two- and three-story garden style buildings that were built in the 1980s. The property offers a unit mix of one-bedroom apartments as well as two- and three‐bedroom townhouses on two levels. Fort Colliers has only two vacant units.

"Both properties are self-managed by the borrower, an experienced local investor in the rental market with a proven track record for success," said Chad Musgrove, vice president at Hunt. "They own and manage five multifamily properties totaling 262 units, as well as one hotel property."

Winchester is a smaller market within the greater suburban Virginia, Maryland, Washington, D.C. area.

"Both Fay Street and Fort Colliers benefit from good highway access which has a positive impact on the regional economy and ensures access to employment opportunities from Pennsylvania to the north and to western Virginia to the south," said Musgrove.