Skip to content
Homepage
  • Market
    • Illinois
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Education
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications

SunTrust CRE originates $5.6M loan for affordable housing in Chicago suburbs

October 15, 2018
Share on Facebook Share on Twitter Share on LinkedIn Share via email

SunTrust Banks, Inc. announced that Evan Hom, managing director in SunTrust CRE’s New York office, originated a $5.625 million, 10-year term loan with a 30-year amortization schedule with Fannie Mae to refinance Fox Shore Apartments in Aurora, Illinois.

Built in 1970, Fox Shore is 100 percent Section 8 housing. The five-story building consists of 94 affordable housing units. SunTrust CRE originated the loan for a non-profit borrower based in Chicago. Fox Shore was 96 percent occupied at time of close on September 21.  

“We secured the permanent agency financing to replace the original bridge loan on the property once it was well occupied,” said Hom.

 

Tags
Auroracommercial real estatecommercial real estate newsCREIllinoisMidwestmultifamilyreal estatereal estate newssuntrust bankSunTrust CRE
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
TexasCRE

Chelby Sanders joins Cresa

September 22, 2023
IllinoisIndustrial

Lee & Associates of Illinois acts as sole broker in full-building Des Plaines industrial lease

September 22, 2023
IllinoisCRE

Golub & Company honors Debbie Frank’s legacy with Buck-It Bash fundraiser

September 22, 2023
IllinoisOffice

Chicago investor buys $30 million office building near O’Hare

Mia GoulartSeptember 22, 2023

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Education
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise
© 2023 REjournals.com