NorthMarq Secures $32M Refinance Loan For 121-Unit Multifamily Community In Okatie SC

The property involved in this transaction is a multifamily asset located at 201 Saddlehorse Drive in Okatie, SC. This community features 121 units and offers various amenities. The loan associated with this asset amounts to $32,000,000 and is categorized as a refinance type, structured as a five-year loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $32,000,000
• Loan Type: Refinance
• Loan Terms: five-year loan
• Lender: ACRE Credit I
• Landlord: RP Communities & Argosy Real Estate Partners
• Brokers: David Vinson, Grant Harris & Faron Thompson - NorthMarq

NorthMarq played a pivotal role by securing the $32M bridge loan for Saddlewood at Pepper Hall on behalf of RP Communities and Argosy Real Estate Partners. This financing arrangement through ACRE will facilitate the refinancing of the property, which is also set to benefit from a planned waterfront park.