Chicago & Midwest + South Side + Finance | January 30, 2019

Hunt RE Capital Finances Three Deals from One Correspondent

Hunt Real Estate Capital has financed three multifamily assets that were brought to the firm by Chicago-based correspondent broker American Street Capital (ASC). Two of the assets, in the South Side’s South Shore neighborhood, required a cash-out, according to ASC; a third was a portfolio in Cleveland’s Lakewood, OH suburb.

The two South Shore Properties—the 28-unit 7200 S. Bennett Ave. and the 24-unit 7421 S. Yates Blvd.—required a total of $2.71 million in refinancing. The borrower purchased both as distressed assets from a private equity group. Currently, they’re about 93% occupied.

For 1681-1685 Lincoln Ave. and 13468 Clifton Blvd. in Lakewood, Hunt provided a $1.66-million loan to finance the acquisition of the 49-unit scattered-site portfolio. “The borrowers on all three deals are experienced commercial real estate and multifamily investors,” said managing director Josh Messier. “American Street Capital continues to be a wonderful partner of Hunt Real Estate Capital.”

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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 GlobeSt.com 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).