Revitate And LaTerra Development Secure $88.2M Construction Loan From Arbor Realty Trust In Albuquerque

The Bedrock at the Trails development in Albuquerque, New Mexico, is a multifamily project that includes 344 units, comprised of 202 townhomes and 142 single-family homes, situated in an emerging area designated as a Qualified Opportunity Zone. The total square footage of the development is 549,000, aimed to address the shortage of housing as Albuquerque has the lowest number of apartments under construction among major metropolitan areas in the Western U.S.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $88,200,000
• Lender: Ari Short - Arbor Realty Trust
• Borrower: Revitate and LaTerra Development
• Capital Advisor: Malcolm Davies & Alexander Rossinsky - WAY Capital
• Loan Type: Construction

Malcolm Davies and Alexander Rossinsky played key roles as capital advisors in this transaction, working on behalf of Revitate and LaTerra Development for the construction financing provided by Arbor Realty Trust. This project, part of a larger master-planned community, reflects the collaborative efforts of these organizations to enhance the housing landscape in a high-growth area of Albuquerque.