CATEGORIES | Debt | Equity | Financial Advisory | Investments | Multifamily | Student Housing
FIDES Capital Partners, LLC ("FIDES") announces that one of its Principals, Gregg Handrich, has been named as the court-appointed receiver for a distressed 222-unit multifamily project located in Illinois. "Occupancy upon takeover is 86% with numerous operational issues including code violations, uninhabitable vacant inventory, a defeated site team, numerous capital issues and a lack of a functional accounting system. We will work to remedy all of these issues, and will work alongside the owner and the existing lender to refinance the property at par." said Greg Handrich.