CAPRE’s Commercial Real Estate Headlines for February 4, 2020: Hunt Real Estate Capital in MI, Edge Principal Raises $560 Million, Preferred Apartment Communities

Check out the latest deals and developments in commercial real estate for February 4, 2020: Hunt Real Estate Capital Provides $18.3 Million to Refinance Two MI Multifamily Properties: Hunt Real Estate Capital has provided two Freddie Mac conventional loans totaling $18.3 million to refinance two multifamily properties located in Michigan for the same sponsor. The borrower is ROCO Real Estate, LLC, a Michigan limited liability company. Both loans have a 10-year term with a 30-year amortization period. The properties include Waverly Place & Bancroft Luxury. Hunt Real Estate Capital provided a $9.3 million conventional Freddie Mac Multifamily loan to refinance Waverly Place Apartments, a 228-unit community located at 1412 Bunbury Road in Kalamazoo, Michigan. The property is comprised of 16 two-story apartment buildings and a leasing office/clubhouse. In addition, the property has a swimming pool, carports, and surface parking. Waverly Place is located 2.3 miles west of downtown Kalamazoo and one mile west of the main Western Michigan University campus. Hunt Real Estate Capital provided a $9 million conventional Freddie Mac Multifamily loan to refinance Bancroft Luxury Apartments. Located at 107 S. Washington Avenue & 102 N. Washington Avenue in Saginaw, Michigan, Bancroft Luxury is a renovated historical property with 152-units situated in two six-story apartment buildings. Edge Principal Advisors Fund IV Raises $560 Million: Edge Principal Advisors has announced the final closing of its fourth real estate fund, Edge Principal Investments IV, L.P. ("Fund IV"). Fund IV closed with…