Atlanta & Southeast + Southeast + Finance | May 29, 2020

Hunt Arranges $22M Acquisition Loan for Charleston Apartments

Hunt Real Estate Capital has arranged a $21.5 million Freddie Mac conventional multifamily loan for the acquisition of Greenwood at Ashley River, a 280-unit apartment community in North Charleston.

The garden-style community consists of 35 residential buildings, one clubhouse and two maintenance sheds. The property is situated on nearly 20 acres and also includes 528 parking spaces as well as a full-size soccer field.

Keith Morris of Hunt secured the financing on behalf of the borrower, Brick Lane. The seller was The RADCO Cos. Terms of the financing included a 10-year term with five years of interest only payments, followed by a 30-year amortization schedule.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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