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Hunt Delivers $27M in Acquisition, Renovation Financing for Chattanooga MF

Hunt Real Estate Capital provided a first mortgage bridge loan in the amount of $27.35 million to finance the acquisition and renovation of Rise at Signal Mountain, a multifamily property in Chattanooga, TN. The borrower was Birmingham, AL-based StoneRiver Company, LLC.

The 99%-occupied asset is a 280-unit, garden-style multifamily community located at 1185 Mountain Creek Rd. The property consists of a 42.9-acre site, and is comprised of 19 two and three-story residential buildings built in 1986.

“Rise at Signal Mountain is very well located and benefits from solid access and visibility from roadway frontage,” said Hunt Real Estate Capital’s Chad Hagwood, who handled the deal. “The borrower will invest just under $2 million in additional capital improvements post-closing.”

The non-recourse interest-only first mortgage bridge loan features a 30-month term with three extension options.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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