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A local credit union provided the loan for the acquisition and refinancing of three properties across the metro.
Amid rising mortgage rates, the region’s housing market is holding steady, with Chicago attracting $1.4 billion in multifamily investments over the first seven months of the year.
Multifamily investments dropped in the second quarter of 2022, but strong real estate fundamentals keep the metroplex an attractive market for investors.
Bravo Capital provided $2.3 million in refinancing for a 60-unit affordable community through HUD's 223(f) program.
The financing package includes a $7.6 million refinance of the Boca Raton community's 53 units, with an additional $19.7 million in construction debt for a 53-unit expansion.