Hunt Real Estate Capital Provides $21M Acquisition, Renovation Loan for Apartment Complex in Greensboro
GREENSBORO, N.C. — Hunt Real Estate Capital has provided a total of $21 million in acquisition and renovation financing for Village 1373, a 332-unit apartment complex in Greensboro. The asset consists of 17 two-story buildings that were built in 1987 and 1996. RJ Guttroff of Hunt Real Estate Capital said the undisclosed borrow plans to rebrand the property and implement more than $4 million worth of upgrades. Interior upgrades will include granite countertops, new cabinets, stainless steel appliances, wood-vinyl plank flooring, painting and new fixtures. Exterior improvements will include new signage, security gate, landscaping, replacing and painting exterior siding, replacing sliding glass doors and windows, asphalt repairs, roof access repairs and amenity upgrades to the fitness center, clubhouse and pool area, including the addition of a dining area with grills. The property was 90 percent occupied at the time of sale.