ShainRealty Capital Divests 8-Property Kenwood Apartment Portfolio
A 200-unit multifamily portfolio located in Chicago’s Kenwood neighborhood sold for an undisclosed sum. The SR8 Portfolio, encompassing eight properties within a two-mile radius, sold to a local Chicago syndicate, led by Eagle Infinite Investments. It marked the first company disposition for seller ShainRealty Capital, a Los Angeles privately-owned real estate investment firm. Interra Realty’s Lucas ... The post ShainRealty Capital Divests 8-Property Kenwood Apartment Portfolio appeared first on Connect CRE.
A 200-unit multifamily portfolio located in Chicago’s Kenwood neighborhood sold for an undisclosed sum. The SR8 Portfolio, encompassing eight properties within a two-mile radius, sold to a local Chicago syndicate, led by Eagle Infinite Investments. It marked the first company disposition for seller ShainRealty Capital, a Los Angeles privately-owned real estate investment firm.
Interra Realty’s Lucas Fryman & Ted Stratman brokered the transaction.
Jonathan Shainberg, of ShainRealty Capital, said, “One of the most attractive features of the deal was the in-place assumable agency debt, providing the buyer with 66% LTV and a 4.18% fixed interest rate for the remainder of the loan. Given that new debt today originates at 150 bps higher, the buyer will have extra cash flow to continue the rehab & rental growth plan we started. Furthermore, the properties are walking distance to the University of Chicago, which will keep rental demand strong for years to come.”
The post ShainRealty Capital Divests 8-Property Kenwood Apartment Portfolio appeared first on Connect CRE.
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