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Chicago & Midwest  + Greater Chicagoland  + Finance  | 

HFF Arranges Sale, Financing of Value-Add Multifamily

HFF arranged both the sale of and acquisition financing for Stone Crossing Apartments, a 258-unit apartment community in the Chicago suburb of Aurora, IL. Pricing was not disclosed.

The HFF team of David Gaines and Sean Fogarty marketed the property exclusively on behalf of the seller, a partnership between Graycliff Capital Partners LLC, Buligo Capital Partners and The Ferndale Realty Group, and procured the buyer, Cunat Inc.

Additionally, HFF worked on behalf of the new owner to secure a three-year, floating-rate acquisition loan through Bridge Debt Strategies Fund Manager LLC, a subsidiary of Bridge Investment Group LLC, which currently manages over $12 billion of assets under management. HFF’s debt placement team included Trent Niederberger and Jason Bond.

Cunat acquired Stone Crossing as a value-add opportunity with plans to completely upgrade, renovate and re-brand the community under a new name, Arbor West.

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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 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
  • ◦Sale/Acquisition