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.