Lument Closes $30.7M Fannie Mae Refinance for Seven Affordable Multifamily Properties in Washington, D.C.

Lument has closed two Fannie Mae loans totaling $30.7 million to refinance a portfolio of seven affordable multifamily housing communities in Washington, D.C., the firm announced March 25, 2026. The transaction replaces existing bank debt with agency financing for properties that serve residents relying on the District of Columbia Housing Authority's Housing Choice Voucher Program.

Financing Details

The two Fannie Mae loans carry fixed interest rates and 10-year terms, each with a five-year interest-only period. Lument Director John Hurley, based in Washington, D.C., led the transaction. The deal was brokered by Christopher Davis of Metropolitan Capital, who brought the opportunity to Lument.

"Replacing bank debt with favorable Fannie Mae financing puts these important affordable housing communities in a strong position to continue serving its residents for many years to come," Hurley said.

Borrower Craig London described the process as smooth and efficient. "The team at Lument delivered a truly excellent outcome, from a smooth and seamless underwriting process to obtaining maximum proceeds at closing," London said.

Portfolio Background

The seven properties were constructed between 1948 and 1965 and have been substantially renovated under current ownership. London's sponsorship team has been acquiring, redeveloping, owning, and managing conventional and affordable multifamily housing in the Washington, D.C., area for approximately 15 years. Specific property addresses, unit counts, and square footage were not disclosed in the announcement.

All units across the portfolio are occupied by tenants using the Housing Choice Voucher Program, administered by the District of Columbia Housing Authority as part of the agency's efforts to provide affordable housing options to D.C. residents.

About Lument

Lument, a subsidiary of Orix Capital Corporation, is a national commercial real estate financing firm offering capital solutions for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. The firm provides Fannie Mae, Freddie Mac, FHA, USDA, and balance sheet financing, as well as capital market lending products and real estate advisory services including investment sales and investment banking. Lument employs approximately 550 people across more than 30 offices in the United States.

Sources: Lument Press Release, March 25, 2026