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HH Fund has obtained a $21 million bridge loan for The Lanes at Union Market, a 110-unit multifamily-to-student housing conversion project in Washington, D.C. M&T Realty Capital Corp. provided the financing.

The two-year, interest-only loan will allow HH Fund to have the necessary time to implement their business plan. The owner acquired the asset at a foreclosure auction in July for $38.3 million, on behalf of EagleBank, according to Yardi Matrix information. Ranger Properties was the seller.