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Bloomington Apartments, LLC, with key principals Darcy Stewart and Grant Marsh, has refinanced Bloomington Apartments, a 118-unit community in St. George, Utah. Hudson Realty Capital, a New York-based commercial real estate investment manager and national FHA/HUD lender, secured the loan $24.6 million FHA Section 223(f) loan with a 5.56 percent interest rate.

HUD’s 223(f) program is a good option for borrowers seeking a product that offers benefits in an uncertain market. Hudson Realty Capital officials noted in prepared remarks that they were able to secure a competitive rate and flexible terms to offer the owners of Bloomington Apartments a financing solution that supports their long-term investment goals and helps ensure continued success of the property.