New York-based commercial real estate finance company Hunt Real Estate Capital announced Friday it provided a Fannie Mae conventional multifamily loan to refinance Porter Street Apartments, an apartment property in the Locust Point area of Baltimore.
The loan features a 12-year term with a 30-year amortization schedule. The borrower is a partnership between Mark Sapperstein and Kinsley Equities.
Porter Street Apartments is a 223-unit, Class-A luxury apartment community at 1401 Porter St. The property has a 600 parking space garage. Porter Street consists of one contiguous structure that is both seven- and five-stories in height. The unit mix consists of 57 studios, 107 one-bedroom, and 59 two-bedroom apartments.
The Porter Street Apartments is also a LEED Silver Building. The developers are committed to sustainable, energy efficient properties in their building design. The site offers EV charging stations and is a Zipcar car sharing location.
The financing was arranged in concert with David Strouse of Birchwood Capital Partners, a boutique real estate investment banking firm based in Baltimore.