HUMBLE, Texas — Lument has provided a $13.4 million Fannie Mae loan to refinance The Fordham at Eagle Springs, an active adult community in Humble, a northern suburb of Houston.
Tom Dixon, a director in affordable housing production based in Charlotte, North Carolina, led the transaction for Lument.
The Fannie Mae loan has a 10-year term, four years of interest-only payments, 30-year amortization and a fixed interest rate.
The Fordham at Eagle Springs was built in 2020 and consists of six buildings housing 137 units. The property is located within Eagle Springs, a Newland master-planned community that offers dining, nightlife, shopping and an array of amenities and outdoor activities in a natural setting.
The borrower has over 40 years of experience in multifamily ownership and development in the Houston area. The successful transaction marks the 10th closing between the sponsor and Lument.