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| 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
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