CAPRE’s Commercial Real Estate Headlines for November 21, 2019

Check out the latest deals and developments in commercial real estate for November 21, 2019: Hunt Real Estate Capital Provides a $5.25 Million USD Fannie Mae DUS Loan to Refinance a Multifamily Property Located in Provo, UT: Hunt Real Estate Capital has provided a Fannie Mae DUS conventional loan in the amount of $5.25 million to refinance a multifamily property located in Provo, UT. Lakeview Court Apartments is a 44-unit, garden-style apartment complex comprised of three, three-story apartment buildings. The property was developed in 2015 and has 42,988 square feet of rentable space. Situated on a 2-acre parcel of land, Lakeview Court offers 88 parking spaces and is currently 97% occupied. The borrower is Geneva Road 44, LLC. The loan is a standard delivery facility with a 12-year term, amortization based on a 30-year schedule, and 24 months of interest only. Yield maintenance will apply during the first 138 months. The Provo-Orem Metropolitan Statistical Area is in central Utah, within the Wasatch Front. The MSA is comprised of the counties of Juab and Utah, and is anchored by the cities of Provo and Orem. Highways serving the MSA include Interstate 15, U.S. Routes 6, 89 and 189, and State Routes 68 and 77. Harbor Group International Sells 400-Unit Multifamily Property in Atlanta Submarket: Harbor Group International has announced its sale of the Preserve at Mill Creek, a 400-unit multifamily property located in suburban Atlanta, for $75 Million USD, a 34%…