Hunt Funds Affordable Housing Deal in San Pedro
The lender provides an affordable housing loan through Fannie Mae nearly $65 million to acquire 216-unit affordable housing property.
Built in 1969, the property is located on a 7.7-acre site at 1327 West Park Western Drive. It features 32 one-bedroom units, 128 two-bedroom apartments, 32 three-bedroom units, 24 four-bedroom apartments, and a 1,300-square-foot maintenance shop.
According to RBC Capital Markets, this was the second largest Fannie M.TEB loan made and featured the lowest rate closed in the program since 2016.