Michael Curland Of Lument Facilitates $34.7M Loan For MultiFamily Property In Duncanville

The transaction involves Wexford Townhomes, a 122-unit multifamily property located at 600 Wembley Cir, Duncanville, TX. The asset was constructed in 1984 and underwent renovations in 2016. The property spans across nine acres and includes 17 buildings. It is situated in the Duncanville market, a southern suburb of Dallas.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $34,700,000.00
• Borrower: Undisclosed
• Borrower's Representative: Michael Curland-Lument

This financing was facilitated by Lument, which originated a 10-year Fannie Mae acquisition loan. The loan features a fixed interest rate, a 30-year amortization schedule, and an initial five years of interest-only payments. The funding was arranged under Fannie Mae’s Green Rewards program.