Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect Daily to stay informed and save time. Connect Daily is our email publication that provides you with the latest and most relevant CRE stories of the day all in 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Midwest  + Student Housing  | 

Black Bear Capital Arranges Refi’s on Multifamily, Student Properties

Black Bear Capital Partners (BBCP) recently arranged $38.4 million in permanent financing on behalf of various owners to refinance student housing and multifamily properties throughout the Midwest. These new transactions include:  

• $19.8 million to refinance a seven-property student housing portfolio in Champaign, IL. Matt Stearns and Raymond Zanca of BBCP arranged the financing on behalf of ownership. First Merchants Bank was the lender.  

• $12.6 million to refinance a 105-unit multifamily property at 5233, 5255 & 5277 West 82nd St. in Bloomington, MN. Brandon Harris of BBCP arranged the financing on behalf of Maven Real Estate Partners. Freddie Mac provided the loan through PGIM Real Estate’s agency lending program. 
• $6 million to refinance three multifamily properties (149 total residential units) located in Omaha. Emil DePasquale of BBCP arranged the financing on behalf of Round Hill Pacific. Fannie Mae provided the loan through Arbor Realty Trust’s agency lending program. 

Connect With Black Bear

Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny


Inside The Story

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 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).

  • ◦Financing