Tuesday, December 3, 2013

HC Real Estate Capital Arranges $16 Million in Acquisition Financing for Multi-Family Community In Port Richey, FL


Park Place Apartments, Port Richey, FL

Port Richey, FL, Dec. 3, 2013 -- Chris Caveglia and Kurt Hoffmann of HC Real Estate Capital have arranged $16,000,000 in acquisition financing for Park Place Apartments in Port Richey, Florida. Financing was arranged through a local lender at a competitive rate.

Park Place apartments is a 420-unit garden style apartment community, built in 1985 and situated is situated on 23.51 acres.  The 420 units are comprised of 276 one bedroom, one bathroom units, 72 two-bedroom, one bathroom and 72 two bedroom, two-bathroom units.  

Property amenities include a main clubhouse with leasing and management offices, two swimming pools, a tennis court and a shuffleboard court

Kurt Hoffmann, Principal at HC Real Estate Capital states, “All sides of the transaction worked well together and were able to meet all deadlines and fund in less than 45 days of the purchase and sale agreement being executed.” 

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:

Post a Comment