Lument arranges $13.3m loan for Texas apartment acquisition

Lument closed a USD 13.3 million Freddie Mac affordable multifamily loan backing Artisan American’s acquisition of Skytop Apartments in Conroe, Texas. Financing terms include a 10-year floating rate, 36 months of interest-only payments, and a 35-year amortization schedule. Skytop is a 192-unit LIHTC garden apartment community built in 2011 within the Houston metro area.