October 11, 2018
Hunt Real Estate Capital has provided two Freddie Mac Small Balance Loans totaling $7.42 million to finance the acquisition of two multifamily portfolios totaling 90 units and located in the South Side’s Bronzeville neighborhood. Both transactions will have a tenant-in-common (TIC) structure.
The portfolios include Bronzeville North (pictured), a multi-property, walk-up portfolio located at 4340, 4343, 4501 and 4846 S. Michigan Ave., and 4915 and 4919 S. Calumet Ave.; and Bronzeville South, including 5726, 5730 and 5901 S. Prairie Ave., 5216 S. Michigan Ave. and 6152 S. Evans Ave. Hunt provided $4.18 million on Bronzeville North and $3.24 million on Bronzeville South.
“The borrower is a quality, seasoned sponsor that has closed seven transactions with both Hunt Real Estate Capital and Freddie Mac, and all of their properties are performing well,” said Owen Breheny, managing director at Hunt. Jeffrey and Susan Drawdy are the transaction guarantors.
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