Hunt Real Estate Capital finances multifamily property in Florida

Hunt Real Estate Capital has provided a $5.88 million, 15-year conventional Fannie Mae DUS® multifamily loan to refinance a multifamily property in Hialeah, Fla.

The borrower is Hialeah 1.2 LLC, a Florida limited liability company and single-asset entity owned by Prestige Companies.

Located at 8520 W 21 St., the District Apartments is a newly built apartment community situated 10 miles north of Miami International Airport.

The property consists of 39 units housed in one residential building, which is fully let. Amenities include walk-in closets, central air, in-unit washer/dryer, impact windows, fire sprinklers, wood cabinets, and granite countertops in both the kitchen and bathroom.

“The borrower developed the property in 2019 and will use the proceeds from the new loan to repay the existing construction loan and recapture some equity,” said Marc Suarez, director at Hunt Real Estate Capital. “This is the third project that we have financed for Pre