SAN ANTONIO--Hunt Mortgage Group has provided a $9.6 million loan to refinance Hyperion Apartments, a multifamily property located at 8525 Floyd Curl Drive in San Antonio, the firm has exclusively told GlobeSt.com.

The loan was arranged through Hunt Mortgage Group's Proprietary Loan team, the firm's new balance sheet lending platform.

“Our new Proprietary Loan platform was created to provide balance sheet loans to finance properties in numerous asset classes,” says Daniel J. Wolins, managing director and chief credit officer for commercial real estate at Hunt Mortgage Group. “This includes: manufactured housing, healthcare/senior housing, office, retail, industrial and self-storage facilities.”

Hyperion Apartments is a garden-style multifamily property situated on a 12-acre parcel of land. The property was built in 1985 and is comprised of 28 two-story residential buildings and a single-story leasing office/clubhouse building that houses a total of 243 units.

“The borrower is Konark LP, a Texas limited partnership, backed by Charlie Yalamanchili,” says Vic Clark, managing director at Hunt Mortgage Group. “Charlie is a premier and seasoned commercial real estate and multifamily investor and a repeat Hunt Mortgage Group client. We are excited to close this loan for a great long-term and repeat customer like Mr. Yalamanchili.”

Hyperion Apartments has 446 parking spaces and is currently 90 percent occupied. Loan terms include a 10-year term amortizing over 30 years.

“The property is well located in a neighborhood that consists of a mixture of single-family subdivisions, multi-family projects, free-standing retail, retail centers, hotels, office/commercial, institutional, industrial and vacant land,” says Clark. “We were pleased to close on this loan, a mere three days before the existing loan matured.  Our team worked efficiently with Charlie's team to quickly close this deal.”

Hyperion Apartments is located in northwest San Antonio, approximately eight miles from the CBD. The property benefits from its location nearby South Texas Medical Center, which consists of over 75 medically related institutions, more than 45 clinics, 12 major hospitals and multiple small practices and offices. 

The property features a unit mix that includes 20 studios, 104 one-bedroom, one-bathroom apartments, 27 one-bedroom, one-and-a-half bathroom units, 56 two-bedroom, one-bathroom apartments and 36 two-bedroom, two-bathroom units. Project amenities include a swimming pool, clubhouse, fitness center, laundry facility, picnic areas, barbecue grills, carports and access gates.