Timber Trail SIG LLC refinanced 12 two-story, garden-style buildings, offering a total of 103 residential units in Columbus with a Freddie Mac Small Balance Loan of $6.4 million from Hunt Real Estate Capital.
Timber Trail Townhomes, situated on a 5.8-acre site at Timber Trail Drive and Cleveland Avenue, is 93 percent occupied. The financing is a 10-year fixed-rate loan with a 30-year amortization schedule. Jim Vance of BlueMark Capital was the mortgage banker for this transaction.
“The borrowers are seasoned real estate investors with more than 30 years of combined commercial real estate lending experience,” Hunt Real Estate Capital Managing Director Daniel A. Eibler said in a statement. “They are also very knowledgeable about the local market with vast experience in developing and managing real estate in the Ohio market and surrounding area. Today they manage a portfolio valued at over $46.7 million.”
