Monday, December 19, 2016

HFF secures $24.88 million financing for 280-unit multi-housing community in Round Lake, IL

Jason Bond
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $24.88 million in financing for Coventry Glen at Valley Lakes, a 280-unit, Class A, garden-style multi-housing community in Round Lake, Illinois.

Working on behalf of the borrower, Eagle Management RE, LLC, HFF placed the 10-year, fixed-rate loan with M&T Realty Capital Corporation.  Loan proceeds were used to acquire the asset.

Coventry Glen at Valley Lakes is located at 1399 Coventry Glen Drive, minutes from Interstate 94 and Route 59/US-12 and the Long Lake and Round Lake Metra commuter rail stations providing direct access into downtown Chicago.  The property’s location within Lake County positions it in proximity to numerous employers, including 11 Fortune 500 company headquarters. 

The 22.17-acre community offers several one- and two-bedroom floor plans averaging 907 square feet each.  The 97.8-percent-leased property features a resort-style swimming pool and sundeck, cyber café and business center, fitness center, community kitchen with coffee bar, outdoor playground, volleyball court, extensive green spaces and access to nature trails and recreational activities within Long Lake Park.

The HFF debt placement team representing the borrower was led by director Jason Bond.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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