Trevato Development Group Secures $73.07 Million Refinance Loan For Multifamily Asset In Jacksonville

The transaction involves a multifamily asset comprising 304 units located at 3650 Enso Way in Jacksonville. The property is known as The Residences at Enso and is currently 90% leased. A bridge loan of $73.07 million has been provided for refinancing, intended to assist in stabilizing the asset ahead of its future sale or further refinancing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $73,070,000
• Lender: Jonathan Hart - Thorofare Capital
• Landlord: Trevato Development Group
• Broker Representatives: Jeffery Kinney & Phil Rachels - CBRE
• Loan Type: Refinance
• Loan Terms: 2.5-year floating rate loan with two one-year extension options

This deal highlights the collaboration between Trevato Development Group and Thorofare Capital, facilitated by CBRE, led by brokers Jeffery Kinney and Phil Rachels. The financing aims to retire existing construction debt and solidify the property's financial position, potentially paving the way for future financial maneuvers within the asset's lifecycle.