The H&A Group Secures $15.92M Loan From Genesis Capital For Multifamily Conversion In East Peoria

The property asset involved in this transaction is a multifamily development located at 500 Centennial Drive in East Peoria, IL. The asset consists of 246 units within a total square footage of 212,374 and is situated on 23.4 acres. An acquisition and construction loan of $15,918,000 was arranged to facilitate the conversion of a vacant former assisted living facility into this multifamily property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,918,000
• Address: 500 Centennial Drive
• Market: East Peoria, IL
• Total Units: 246
• Square Footage: 212,374
• Acres: 23.4
• Lender: Genesis Capital
• Landlord: Avromi Klor & Hannah Englander - The H&A Group
• Broker: Joe Siegfried - Eastern Union
• Loan Type: Acquisition & Construction

This transaction involved key individuals and companies including the landlord, Avromi Klor and Hannah Englander, who are associated with The H&A Group. Joe Siegfried acted as the broker through Eastern Union, facilitating the financing which covers approximately 85% of total project costs for the adaptive reuse redevelopment.