Chicago-based Capital Fund Services (CFS), a related company of Cinnaire, closed on an acquisition loan for the purchase of a 36-unit multi-family housing development in Portland, Indiana in the amount of $616,500, at a rate of 4.75% for PK Housing, a long-standing client of Cinnaire.
“We are very excited to acquire our first Indiana property,” stated Pete Potterpin, President of PK Development Group. “Piedmont Apartments will help us meet our goals of preserving quality affordable housing. The flexible financing provided by Capital Fund Services was essential to us providing the winning bid and will help us establish a viable long-term strategy for this property.”
CFS is thrilled to continue the partnership with PK Housing and meet their lending needs.
“It was great to be able to deliver for Pete and the PK team. Having a quick closing process and multiple loan products to execute resulted in a successful funding for everyone,” said CFS President, Katherine Forth.