Chicago & Midwest + Midwest + Apartments | July 13, 2021

Black Bear Closes Permanent Financing on Wisconsin Apartments

Black Bear Capital Partners (BBCP) arranged $20.2 million in permanent financing on behalf of National Management, LLC for the refinance of three multifamily properties located in Appleton, Wausau and Schofield, WI. BBCP’s Scott Modelski and Sam Koziol arranged the financing.

The Fannie Mae Loan through PGIM Real Estate’s agency lending program featured a fixed rate of 3.17% for 10 years with interest-only payments for the entirety of the term.

The three Wisconsin multifamily properties, totaling 324 units, are known as Bos Creek, Metro Center and Rangeview and are respectively located at: 1901-1930 N. 10th Ave. in Wausau; 1408-1512 Metro Dr. in Schofield; and 1630-1660 W Evergreen Dr. in Appleton.

The properties offer residents a blend of a peaceful country setting while also providing the conveniences of a suburban lifestyle, says BBCP. Residents are afforded a multitude of amenities while enjoying proximity to public transportation, shopping, and entertainment.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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