Bristol Development Group Secures $79 Million Refinance For Multifamily Property In Santa Rosa Beach

The Jewel at Santa Rosa Beach is a 408-unit Class A multifamily property located at 158 Malachite Way in Santa Rosa Beach, FL. The asset is currently in the lease-up phase and is situated near the US-98 corridor and the 30A beaches, indicating its appeal in the multifamily market. The property has undergone a refinancing process for a total loan of $79 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $79,000,000
• Loan Type: Refinance
• Loan Terms: interest-only, non-recourse
• Landlord: Bristol Development Group
• Brokers: Jeremy Pino, Livingston Hessam, Carl Passmore, Kyle Miller, Keith Melton & David Strange - Walker & Dunlop

Walker & Dunlop managed to arrange the refinancing on behalf of Bristol Development Group, facilitating the transition through a non-recourse, interest-only bridge loan. The financing highlights the market's ongoing interest in newly constructed and amenity-rich multifamily assets located in secondary coastal markets.