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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