March 2, 2020
Hunt Real Estate Capital has provided a $38.2 million Freddie Mac Conventional Lease-Up Multifamily loan to finance the acquisition of West End Station Apartments, a 229-unit multifamily property in Winston-Salem.
The mid-rise apartment community was completed in 2019, and includes a four-story mid-rise building. There are nine different one-bedroom options and three, two-bedroom plans. The property also offers residents 286 parking spaces.
The borrower, EBSCO West End, acquired the property from a joint venture between The Carlyle Group and Chaucer Creek Capital. The loan was funded through Freddie Mac, as part of a pre-stabilization program for new construction properties in lease-up.
The property is targeted to reach stabilization early this year.
For comments, questions or concerns, please contact David Cohen