Walker & Dunlop has secured a $49.3 million construction loan for the development of Hominy Creek Apartments, a 216-unit multifamily community located at 40 Pallet Road in Candler, near Asheville. The loan will be used to finance the construction of the new apartment complex.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $49,300,000
• Units: 216
• Address: 40 Pallet Road, Candler, NC
• Market: Candler, NC
• Landlord: Southeast Partners
• Brokers: Fletcher Dunn, Matthew Wallach, Stephen West & Walker Layne - Walker & Dunlop

The loan, provided by Walker & Dunlop, will support the development of Hominy Creek Apartments. This multifamily community is set to offer 216 units to meet the growing demand for housing in the Candler area near Asheville. Located at 40 Pallet Road, the development site is strategically positioned in a desirable market. The financing obtained for this project will ensure the successful completion of the apartment complex, providing much-needed housing options to the local community.