Chestnut Holdings obtained financing of $12M from JPMorgan Chase

Chestnut Holdings through the entity 2170 U LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank, N.A. valued at $11.6 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 111 residential units at 2170 University Avenue in University Heights. The deal closed on August 27, 2019 and was recorded on August 30, 2019.
The property contains a total of 141,800 square feet of built space.
The average loan per unit is $104,505. The transaction increased the total debt by $100,000.

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