Cunat Launches $56M DST Offering for 540-Unit MF in McHenry

Cunat, Inc. announced the launch of Cunat Exchange X DST, which is seeking to raise $56.17 million.

The DST owns The Residence of Fox Meadows, a newly developed 540-unit multifamily community in McHenry, Illinois, approximately 50 miles northwest of Chicago. Cunat developed The Residence of Fox Meadows and sold the property to the DST for $135 million. The 18-building community sits on approximately 37 acres and was 97.5% occupied.

It is one of 15 Cunat properties in McHenry County, where the firm is headquartered. The property is financed with an $84.375 million, 10-year, interest-only, nonrecourse loan at a fixed rate of 5.43%. Located at 1840 Aastri Drive, The Residence of Fox Meadows offers one-bedroom, one-bedroom-with-den and two-bedroom floor plans.

“We developed The Residence of Fox Meadows and have been involved with it from the beginning,” said Brian Cunat, co-founder and CEO of Cunat, Inc. “McHenry County is our home market, and our underwriting is informed by decades of operating results from our own communities there.”

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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