Bank OZK Provides $61 Million Construction Loan For 333-Unit Multifamily Asset In Pooler, GA

The property involved is a multifamily asset located at 800 High Avenue in Pooler, GA, comprising 333 units. This asset is part of a loan transaction amounting to $61,000,000, which is designated for construction purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $61,000,000
• Loan Amount: $61,000,000
• Loan Type: Construction
• Lender: George Gleason - Bank OZK
• Debt Amount: $47,500,000
• Equity Amount: $13,250,000
• Equity Provider: FCP
• Loan Terms: Three-year, floating-rate loan
• Brokerage Firm: Berkadia
• Broker Representatives: Scott Wadler, Bryan Brown, Mitch Sinberg, Brad Williamson, Matthew Robbins, Robert Falese, and Jake Adoni

The deal involved key individuals including George Gleason representing Bank OZK as the lender, while Berkadia acted as the brokerage firm facilitating the transaction. The brokers who played significant roles include Scott Wadler, Bryan Brown, Mitch Sinberg, Brad Williamson, Matthew Robbins, Robert Falese, and Jake Adoni, all of whom contributed to the execution of the financing agreement for the multifamily development.