Wells Fargo And Freddie Mac Provide $38.9M Loan For Ekos At Bayonet Point II Development

The asset involved in this transaction is a development site located at 7526 Mcdowell Way in Hudson, FL. The property is part of an affordable housing project called Ekos at Bayonet Point II, which will consist of 120 apartments and has secured a loan amount of $38,900,000 for its construction. The project is expected to be completed by spring 2028.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $38,900,000
• Lender: Wells Fargo & Freddie Mac
• Landlord: W. Patrick McDowell & Christopher Shear - McDowell Housing Partners

This transaction involved McDowell Housing Partners, which is led by W. Patrick McDowell and Christopher Shear. The financing structure includes tax-credit equity and senior construction financing provided by Wells Fargo, while Freddie Mac will be responsible for the permanent financing of the five-story development.