Urbana
Urbana
304 UNITS
Garden Style Apartments
Acquired in 2021
Purchase Price: $19.5M
Loan Amount: $15,950,000
UPDATE: LOOP Acquires 304 Multifamily Units in Urbana, IL
March 2021
Loop Investments acquired two properties in Urbana, Il.
Parkside is 144 units and Stone Ridge Square is 160 units. The total purchase price was $19.5M and a Fannie Mae loan was secured for $15,950,000. The properties have been well maintained by the current long-term owner who also self-managed the communities
We are forecasting 10.3% ongoing COC, along with 14.4% IRR over a 10-year hold.