Branch Properties Secures $47 Million Loan From Voya Investment Management For Multifamily Complex In Navarre

The property asset involved is Elevate Navarre, a multifamily complex featuring 332 units located at 1900 Elevate Avenue in Navarre, Florida. The property recently secured a loan amounting to $47 million for refinancing purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $47,000,000
• Loan Type: Refinance
• Loan Terms: three-year, fixed-rate
• Lender: Matt Toms - Voya Investment Management
• Landlord: Jesse Shannon - Branch Properties
• Broker: Blake Cohen - CBRE
• Units: 332

Blake Cohen of CBRE arranged the refinance loan for Branch Properties, highlighting the strong leasing performance of Elevate Navarre and moderate leverage as key factors in securing life company financing. The deal showcases the collaboration between the lender and property management to address refinancing needs efficiently.