New York, NY — February 5, 2025 — Lument closed a $16.3 million Freddie Mac conventional multifamily loan to refinance Mystique at University Heights in Fort Worth, Texas, within one mile of Texas Christian University. Lument’s Evan Hom, a senior managing director based in New York, led the transaction.
The Freddie Mac loan features a fixed interest rate, five-year term with interest only payments for the first two years, and 30-year amortization.
The sponsor is Sahara Equity, an experienced real estate investment firm with a portfolio consisting of 17 multifamily properties and over 3,000 units. Sahara is a repeat client of both Freddie Mac and Evan Hom.
“We’re thrilled to partner with Sahara Equity in completing another successful, strategic and accretive refinance, replacing a floating rate mortgage with a fixed rate execution, thereby strengthening its portfolio and, most importantly, preserving high-quality multifamily housing for renters at different income levels,” said Hom.
Built in 2020, Mystique consists of 117 units within one three-story building. Sahara purchased the property in 2021 and subsequently improved occupancy. The community is mission-driven, with 77% of units reserved for renters at 80% area median income (AMI).
About Lument
Lument, a subsidiary of ORIX Corporation USA, is a national leader in commercial real estate finance and delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument offers Fannie Mae, Freddie Mac, FHA, USDA, and balance sheet financing, as well as a full suite of capital market lending products. In addition, Lument provides a suite of real estate advisory solutions including real estate investment sales, investment banking, and investment management solutions. The company has approximately 600 employees in over 30 offices across the United States.
Securities, investment banking, and advisory services are provided through Lument Securities, LLC, member FINRA/SIPC. Lument Investment Management, LLC, is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit https://www.lument.com/.
