Lument Closes $27.3 Million Freddie Mac Refinance for Two Texas Multifamily Communities
NEW YORK — Lument has closed two Freddie Mac loans totaling $27.3 million to refinance two multifamily communities in Texas, the firm announced July 10, 2026. The properties, located in Brownsville and Wichita Falls, together comprise just under 500 units and were acquired by the borrower several years ago as part of a larger portfolio.
Phil Frasca of Lument led the transaction. The deal was sourced by Steve Sieling of Dallas-based Azur Commercial Capital. The sponsor is a repeat Freddie Mac borrower with more than 1,000 units under ownership throughout Texas.
Loan Structure and Terms
The two Freddie Mac loans carry fixed interest rates, five-year terms, and 30-year amortization schedules. One loan features three years of interest-only payments, while the other includes two years of interest-only. The transaction also generated cash-out proceeds for the borrower.
"Getting to the finish line with attractive terms is the most important aspect of multifamily financing in this ever-changing market," Frasca said. "With the help of the expert teams at Freddie Mac and Lument, we were able to navigate volatile treasury yields and pending loan maturities, ultimately delivering an optimal outcome that included cash-out proceeds and partial interest only."
Lument did not disclose the names or street addresses of the two properties.
About Lument
Lument, a subsidiary of ORIX Capital Corporation, offers financing through Fannie Mae, Freddie Mac, FHA, USDA, and balance sheet programs, as well as capital markets lending products. The firm also provides real estate advisory solutions including investment sales, investment banking, and investment management. Lument employs approximately 550 people across more than 30 offices in the United States.
Securities, investment banking, and advisory services for Lument are provided through Lument Securities, LLC, a member of FINRA and SIPC.