LOVE FUNDING ARRANGES $12.5M LOAN FOR COVINGTON COURT APARTMENTS

by admin

ST. CHARLES, ILL. — Love Funding has secured a $12.5 million loan to refinance Covington Court Apartments, a 208-unit apartment community in St. Charles. Jon Wagenknecht of the Chicago office of Love Funding arranged the 35-year loan through a U.S. Department of Housing and Urban Development program. Covington is one of six multifamily units owned by Shodeen interests in the tri-city area of Illinois, which includes Geneva, St. Charles and Batavia.

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