New York, NY — August 22, 2024 — Lument announced that it closed a $25.7 million commercial mortgage-backed securities (CMBS) loan through its real estate capital markets team to refinance a 318-unit multifamily community in Peoria, Illinois. The fixed-rate loan has five years of interest-only payments. Josh Perew, senior director, and Joey Berezdivin, associate director, led the transaction for Lument.
“Having an experienced in-house capital markets team gave us the ability to zero in on a solution that would help our client meet their financial goals,” Berezdivin said.
The sponsors purchased the community in 2022 and have since completed substantial renovations.
Lument’s real estate capital markets team offers a broad selection of alternative debt and preferred equity finance solutions from capital sources such as banks, debt funds, life companies, and conduits. The team also offers agency finance as well as balance sheet loans.
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/.
