Lument recently closed a pair of loans for multifamily communities in Missouri and Kentucky.
Lument closed a $78.8 million refinance via the HUD/FHA Sec. 223(f) program for The Hub, a 590-unit multifamily community in Bowling Green, Kentucky.
The transaction takes advantage of a recently updated policy regarding large loan risk management, whereby the loan threshold increased to $120 million from $75 million.
Lument also closed a $20.9 million Fannie Mae loan to help a longtime client acquire two multifamily communities in Saint Joseph, Missouri. The loan has a seven-year term with two years of interest-only and a 30-year amortization.
