October 12, 2018 Comments (0) Views: 317 Chicago News, Greater Chicagoland

HFF Arranges Sale, Financing of Value-Add Multifamily

HFF arranged both the sale of and acquisition financing for Stone Crossing Apartments, a 258-unit apartment community in the Chicago suburb of Aurora, IL. Pricing was not disclosed.

The HFF team of David Gaines and Sean Fogarty marketed the property exclusively on behalf of the seller, a partnership between Graycliff Capital Partners LLC, Buligo Capital Partners and The Ferndale Realty Group, and procured the buyer, Cunat Inc.

Additionally, HFF worked on behalf of the new owner to secure a three-year, floating-rate acquisition loan through Bridge Debt Strategies Fund Manager LLC, a subsidiary of Bridge Investment Group LLC, which currently manages over $12 billion of assets under management. HFF’s debt placement team included Trent Niederberger and Jason Bond.

Cunat acquired Stone Crossing as a value-add opportunity with plans to completely upgrade, renovate and re-brand the community under a new name, Arbor West.

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