Upcoming Stories
Washington DC CRE News In Your Inbox .

Washington DC   /   January 17, 2021

David Cohen
By: David Cohen

Red Oak Financial Provides $3M Acquisition Loan for Metro D.C. Apartments

Michigan-based commercial real estate finance company Red Oak Financial has provided a $2.8 million loan for Hunt Manor, a 15-unit apartment community in Washington D.C.’s Deanwood area. The financing was used to acquire the asset and provide capital improvements that encompassed the conversion of market-rate apartments to affordable housing as part of the District of Columbia Housing Authority’s (DCHA) Housing Voucher Program.

The property was constructed in 1951 and consists of a building on a half-acre site at 4400 Hunt Place NE. The property consists of all three-bedroom, one-bath units, with residences averaging 660 square feet in size.

Renovations to the property included a full interior rehab, exterior paint and landscaping and each unit receiving its own washer/dryer, water tank and HVAC systems. The revitalization helped bring the property to 100% leased in four months.

The borrower was not disclosed.

Inside The Story
About the Author

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.
Email the Author

New call-to-action
New call-to-action
© ConnectCRE 2021 / 3900 San Fernando Road, Suite 1007, Glendale, CA 91204
Contact Us / Policies, Privacy & DisclosuresSubmit Press Release /