421 South Yates Blvd Chicago

January 30, 2019 Comments Off on Hunt RE Capital Finances Three Deals from One Correspondent Views: 371 Chicago News, South Side

Hunt RE Capital Finances Three Deals from One Correspondent

Hunt Real Estate Capital has financed three multifamily assets that were brought to the firm by Chicago-based correspondent broker American Street Capital (ASC). Two of the assets, in the South Side’s South Shore neighborhood, required a cash-out, according to ASC; a third was a portfolio in Cleveland’s Lakewood, OH suburb.

The two South Shore Properties—the 28-unit 7200 S. Bennett Ave. and the 24-unit 7421 S. Yates Blvd.—required a total of $2.71 million in refinancing. The borrower purchased both as distressed assets from a private equity group. Currently, they’re about 93% occupied.

For 1681-1685 Lincoln Ave. and 13468 Clifton Blvd. in Lakewood, Hunt provided a $1.66-million loan to finance the acquisition of the 49-unit scattered-site portfolio. “The borrowers on all three deals are experienced commercial real estate and multifamily investors,” said managing director Josh Messier. “American Street Capital continues to be a wonderful partner of Hunt Real Estate Capital.”

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