Hunt Mortgage Group is eager to work with a multi-family property in downtown Portland, Oregon by providing them with a $14.5 million-dollar loan. One of the top leaders in commercial real estate financing, Hunt Mortgage Group, has recently announced the news of their lending of the first mortgage bridge loan to refinance this property.
Tess O’Brian Apartments is the home of the refinance property and is a 123-unit apartment complex located in the heart of the Northwest District of the city of Portland. The apartment complex happens to be backed by a well-known pacific northwestern developer that has been very successful in the real estate market for over 25 years, Mr. Martine Kehoe. Mr, Larry Wilmon, Vice-President of Hunt Mortgage Group, told Business Insider that Mr. Kehoe and his company is known for specializing and refinancing in urban Portland development projects.
The Northwest District of Portland is an excellent location for an apartment complex because it is near the popular Pearl District, downtown Portland and also many nearby neighborhood retail shops. The units were finished being built in 2016 and there are lots of great things to do in the thriving area, adding value to the property.
The apartment complex is consisted of two separate buildings, both considered mid-rise buildings at six stories high. The property is quite large, with a fitness center, Club house, and leasing office on the property as well along with a laundry facility located at each of the apartment buildings. The commercial real estate financing for the property will come in handy with keeping the property value to not only be stable, but maybe even increase with since downtown Portland is expected to grow even more.
Commercial real estate financing for the Tess O’Brian Apartments will lent a helping hand by Hunt Mortgage Group to assist with refinancing
It is expected that the bridge loan financed by Hunt Mortgage Group will be used to help make payments on existing construction debt. The property was acquired in the late part of 2014 and now, just three years later, the timing for refinancing happened to be right, especially because all of the construction has been completed for almost a full year.
Successful commercial real estate financing group is known to be there when you need them for extra financing
Hunt Mortgage Group offers commercial real estate financing for all different types of real estate that includes but is not limited to, affordable housing, office spaces, retail spaces, industrial buildings, multifamily properties, self-storage facilities and more. The group is known across the United States of America and have been responsible for structuring over $21 billion-dollars in loans. They are currently headquartered in New York City, but has 23 different locations across the country.
Level 4 Funding LLC Private Hard Money Lender
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About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.