ACRE Provides MED Developers with $26.5 Million to Refi The Lowe – Robert Khodadadian
ACRE has provided $26.5 million to MED Developers for the refinance of The Lowe, a newly built, class-A multifamily development in Savannah.
The loan was brokered by John Gavigan, managing director of JLL Capital Markets, to refinance MED Developers’ existing construction debt. Pegasus Residential will manage the property.
“Despite the strong demand for additional multifamily development across the U.S., there is still significantly less liquidity in the market due to recent rate hikes and persistent inflation allowing ACRE to gain market share providing institutional sponsors with the debt,” said Sam Browne, vice president of ACRE.
The Lowe opened in March. It has 135 studio, one- and two-bedroom residences. Units feature keyless entry, high speed Wi-Fi, quartz countertops with designer backsplashes, private balconies, and in-unit washers and dryers. Community amenities include resort-style swimming pool, fitness center, luxury club room, pet spa, grilling area, covered parking and bicycle storage room.
The post ACRE Provides MED Developers with $26.5 Million to Refi The Lowe appeared first on Connect CRE.
ACRE has provided $26.5 million to MED Developers for the refinance of The Lowe, a newly built, class-A multifamily development in Savannah. The loan was brokered by John Gavigan, managing director of JLL Capital Markets, to refinance MED Developers’ existing construction debt. Pegasus Residential will manage the property. “Despite the strong demand for additional multifamily …
The post ACRE Provides MED Developers with $26.5 Million to Refi The Lowe appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate