Thursday, December 12, 2013

HC Real Estate Capital Arranges $5 Million Financing for Multi-Family Community in Boca Raton, FL


The 73-Unit Forum Apartments, Boca Raton, FL
 
Boca Raton, FL, Dec. 12, 2013 --   Kurt Hoffmann and Chris Caveglia of HC Real Estate Capital have arranged $5,000,000 in financing for The Forum Apartments located in Boca Raton, FL.  HC Real Estate Capital worked exclusively with the borrower to obtain a 7-year fixed-rate loan through a regional bank at a competitive interest rate.

The Forum is a 73-unit apartment complex that was originally built in 1968 and is situated on 2.26 Acres.   

The property is currently 95% leased and the individual units are made up of 3 studio units, 24 one-bedroom/one bathroom units, 43 two-bedroom/two bathroom units and 3 three-bedroom/three bathroom units.  The average unit size is 1,175 SF. 

Chris Caveglia, Principal at HC Real Estate Capital states, “The Forum is conveniently located in East Boca Raton.   The beach, Mizner Park, Royal Palm Plaza and the Boca Raton Resort are within one mile of the property.”  Caveglia went on to say, “There are two college universities within 5 miles and three public schools within 2 miles of the Forum.”

Boca Raton Resort

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia. 

 Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent and bridge commercial and multifamily real estate loans.  The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks.

For a complete copy of the company’s news release, please contact:

Chris Caveglia
HC Real Estate Capital, LLC
660 Linton Blvd. Ste 200 EX5
Delray Beach, FL 33444
Direct: 561-266-3273
Mobile: 561-376-3176


No comments: