StoneRiver Secures Financing for Tennessee Acquisition

Multi Housing News | April 17, 2020

StoneRiver Co. has secured $27.4 million to acquire and renovate Rise at Signal Mountain, a 280-unit multifamily community in Chattanooga, Tenn. Hunt Real Estate Capital provided the 30-month non-resource interest-only first mortgage bridge loan with three extensions options.  Located at 1185 Mountain Creek Road, the community comprises of 19 two- and three-story buildings and provides access to Highway 27. Developed in 1986, on a 42.9-acre site, the property is situated near schools, entertainment venues, shopping centers and restaurants. Rise at Signal Mountain offers residents a mix of one- and two-bedroom units featuring in-unit washer-dryers. Amenities include a fitness center, business center, dog park, storage unit, swimming pool, car wash station and picnic area with barbecue grills. The property was 99 percent occupied at the time of the transaction. StoneRiver Co. plans to complete exterior, common area and amenity upgrades to the property. Exterior renovations will begin this month and are projected to be completed in six to nine months.

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California housing market maintains momentum in May. California existing home sales edged up, rising above the 400,000 benchmark level for the third straight month. The demand pushed the median price of an existing

Spotlight

California housing market maintains momentum in May. California existing home sales edged up, rising above the 400,000 benchmark level for the third straight month. The demand pushed the median price of an existing

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Bonaventure and Project Destined Announce Strategic Partnership to Grow the Next Generation of Commercial Real Estate Leaders

Bonaventure | October 21, 2022

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Thompson Thrift to Develop Luxury Multifamily Community Outside Colorado Springs

Thompson Thrift | November 29, 2022

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SVN | September 20, 2022

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