Golden Hour Collective Secures $42.5 Million Construction Loan From Dwight Mortgage Trust In Asheville

The asset involved in this transaction is a 17-acre development site located in Asheville, NC. This site is designated for the construction of Old Charlotte Townhomes, a 133-unit build-to-rent community that includes three- and four-bedroom townhomes with garages. Additionally, the project will offer amenities such as a clubhouse and a pool.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $42,500,000
• Lender: Dwight Mortgage Trust
• Landlord: Anne Behrendt - Golden Hour Collective
• Loan Type: Construction
• Market: Asheville, NC

Golden Hour Collective is the entity that secured the $42.5 million construction loan with Dwight Mortgage Trust, indicating the financial backing for this development. The project aims to fulfill the demand for build-to-rent housing options in the Asheville area.