August 4, 2020
Black Bear Capital Partners (BBCP) recently arranged $38.4 million in permanent financing on behalf of various owners to refinance student housing and multifamily properties throughout the Midwest. These new transactions include:
• $19.8 million to refinance a seven-property student housing portfolio in Champaign, IL. Matt Stearns and Raymond Zanca of BBCP arranged the financing on behalf of ownership. First Merchants Bank was the lender.
• $12.6 million to refinance a 105-unit multifamily property at 5233, 5255 & 5277 West 82nd St. in Bloomington, MN. Brandon Harris of BBCP arranged the financing on behalf of Maven Real Estate Partners. Freddie Mac provided the loan through PGIM Real Estate’s agency lending program.
• $6 million to refinance three multifamily properties (149 total residential units) located in Omaha. Emil DePasquale of BBCP arranged the financing on behalf of Round Hill Pacific. Fannie Mae provided the loan through Arbor Realty Trust’s agency lending program.
For comments, questions or concerns, please contact Paul Bubny