GRAPEVINE, Tex.--Hunt Mortgage Group has provided a $43.65 million Fannie Mae fixed-rate loan to facilitate the acquisition of a multifamily property located in Grapevine, the company exclusively tells GlobeSt.com.

The property, The Resort at 925 Main, is located at 925 Main St. The class A asset is comprised of two, three-story and one, four-story residential buildings and a five-level parking garage. Situated on a 5.5-acre lot and built in 2008, the property has a total of 251 units and eight ground-floor retail spaces totaling 19,664 square feet.

The borrower is 925 Main LP, which is managed by Roland Stewart. The loan term is ten years with five years interest-only, followed by a 30-year amortization period and 9.5 year yield maintenance. The loan-to-value is 80 percent.

“Roland Stewart is a seasoned commercial real estate executive with more than 35 years of hands-on experience and a repeat Fannie Mae customer,” says Vic Clark, managing director at Hunt Mortgage Group. “In addition, 925 Main Street is in excellent condition, offers tenants superior amenities and is located in very healthy submarket. This was a solid deal for Hunt.” 

“Hunt Mortgage Group was able to take our loan from application to close in a short 30 days,” says Stewart. “The team was terrific to work with – they are knowledgeable, professional and offer a solid certainty of execution. We hope to partner with the Hunt team again in the near future.”