Chicago - Acquisition and Rehab Loan of 2 Apartment Buildings (19 units)

Client: A well established real estate developer and investor with a focus on the Hyde Park – Bronzeville area of Chicago.

Transaction: Acquisition of 2 separate apartment buildings from a bank seller that required rehab and lease up of tenants.

Challenge: Client had short window of time to close on a transaction to buy 2 apartment buildings and secure funds for purchase and rehab.  13 Unit and 6 Unit Building.

Opportunity: Sherpa Capital Group LLC was able to provide acquisition and construction funds to allow client for a quick closing from bank who was selling an Real Estate Owned (REO) property.

Action: Sherpa Capital Group, LLC provided a first mortgage structured as a construction loan to rehab units and allow developer to re-lease and stabilize asset.