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HUD 223 Lends $12.1M For 285-Unit Multifamily In Champaign, IL

1862 Valley Road
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This MultiFamily property located in IL received a loan of $12,120,800 about 3 years ago. The brokers of the deal were Matthew (Matt) Stearns and Raymond Zanca

An HUD 223 loan has been secured for a multifamily property located at 1862 Valley Road in Champaign, IL. The property spans 256,230 square feet and comprises 285 units. The loan was arranged by Matt Stearns and Raymond Zanca of BlackBear Capital Partners.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $12,120,800
  • Loan Terms: 35-years fixed at 2.30%, non-recourse

Matt Stearns and Raymond Zanca of BlackBear Capital Partners represented the borrower in securing the HUD 223 loan for this multifamily property.

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Deals
  • Location
    1862 Valley Road, Champaign, Illinois, USA1862 Valley Road, Champaign, Illinois, USA
  • Loan Value
    $12,120,800$12,120,800
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Matthew (Matt) Stearns

Matthew (Matt) Stearns

Deals20
Financed$416.5M

Agency

Black Bear Capital Partners

Black Bear Capital Partners

Agency
Deals294
Volume$6.3B

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Deal Summary

LOAN IMAGE: Matt Stearns & Raymond Zanca DATE: 03/01/2021 ADDRESS: 1862 Valley Road MARKET: Champaign, IL ASSET TYPE: Multifamily ~ SF: 256,230 ~ UNITS: 285 LENDER: HUD 223 BROKERS: Matt Stearns & Raymond Zanca - @BlackBearCapitalPartners LOAN AMOUNT: $12,120,800 LOAN TERMS: 35-years fixed at 2.30%, non-recourse

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1862 Valley Road

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