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NEW YORK, May 6, 2021 /PRNewswire/ Lument recently provided a $15.2 million Fannie Mae conventional multifamily loan for a 176-unit, garden-style multifamily community in Columbia, South Carolina. The property is owned and managed by an experienced sponsor with a multifamily portfolio of approximately 1,121 units throughout the Southeast. Steven Cox, senior managing director in Lument s New York office, led the transaction. As usual, Fannie Mae proved to be an extremely beneficial financial solution, said Cox. Not only does the successful closing refinance existing debt at a low, fixed rate, it does so with a full term interest only period while also providing substantial cash-out proceeds to the sponsor.
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NEW YORK, May 3, 2021 /PRNewswire/ Lument recently provided acquisition financing in the form of a $12.9 million Fannie Mae conventional loan to an experienced multifamily housing sponsor for the purchase of The Landing Apartments, a 166-unit, high-rise and garden-style community in Dayton, Ohio. Steven Cox, senior managing director in Lument s New York office, led the transaction. Collaborating with this experienced sponsor to arrange Fannie Mae acquisition financing was a pleasure, said Cox. The Landing Apartments is an important source of quality housing in its area. With the acquisition financing, immediate repairs, and new property management, the community is well poised for a bright future.
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