Lument closes USD 198 million multifamily bridging loan in December 2024 By Investing.com

These latest closures support a wide range of business plans. Additional 170 million dollars bridging loans are currently under application and will close in early 2025.

NEW YORK, January 16, 2025 /PRNewswire/ — Lument announced today that it has closed more than 198 million dollars in the balance of bridging financing in december 2024. The loans facilitate the leasing, acquisition and construction of seven multifamily properties across the country. Together, the loans support more than 1,500 units in six states, as summarized below:

• 60 million dollars lease-up refinance for multi-apartment property in Olympia, WA
• 37 million dollars lease-up refinance for multi-apartment property in Macon, GA
• 31 million dollars gradual refinancing of the lease for construction real estate for rent (BTR) in Dayton, OH
• 25 million dollars gradual refinancing of the lease for construction real estate for rent (BTR) in Groveport, OH
• 22 million dollars time refinancing for an affordable residential property in Miami, FL
• 17 million dollars leasing-up procurement financing for multi-apartment property in Lafayette, IN
• 6 million dollars time refinancing for an age-restricted multi-apartment property in Bellflower, CA

In addition to a strong run of year-end closings, Lument saw a significant increase in borrower interest rates during the fourth quarter. Additional 170 million dollars bridging loans are in the application phase and are expected to close in the first two months of 2025.

“Lument’s bridging program has once again proven to be a highly effective and efficient way to support our clients’ strategic objectives during emerging markets,” he said. James Flynnchief executive officer of Lument. “We expect increased demand as the current wave of new construction transitions toward stabilization, as we are able to support these assets with a smooth transition to permanent financing.”

Lument’s bridging program focuses on loans 10 million dollars and more that are secured by multi-family, affordable apartments or housing facilities for the elderly. These interest-only variable rate loans range from six to 36 months with extension options and customized yield maintenance periods.

Lument Investment Management, LLC serves as external manager and advisor Lument Finance Trust, Inc. (NYSE: LFT), a publicly traded REIT focused on investing in, financing and managing a portfolio of commercial real estate debt investments. Of September 30, 2024, Lument Investment Management manages almost 1.2 billion dollars credit portfolio consisting of floating rate debt, approximately 93.2% of which is collateralized by multifamily assets, on behalf of Lument Finance Trust.

About Lument

Lument, a subsidiary of the company ORIX Corporation USAis a national leader in commercial real estate financing and offers a comprehensive suite of capital solutions tailored to investors in multifamily, affordable housing, senior housing and healthcare real estate. Lument offers Fannie Mae (OTC:), Freddie Mac (OTC:), FHA, USDAand bridging balance sheet financing, as well as a full range of capital market lending products. Additionally, Lument offers a suite of real estate advisory solutions including investment sales, investment banking and investment management. The company has over 600 employees in more than 30 offices around the world United States.

Securities, investment banking and advisory services are provided through Lument Securities, LLCmember FINRA/SIPC. Lument Investment Management, LLCis registered as an investment advisor at US Securities and Exchange Commission. For more information, visit www.lument.com.

Media contact:Tyler Howardtyler.howard@lument.com