Hathaway Development Secures $153.3 Million Refinance Loan From ACRES Capital For Indian Trail Multifamily

The property involved in this transaction is a multifamily asset located at 199 Exchange Circle, Indian Trail, NC. It consists of 312 units and is part of a refinancing deal facilitated by ACRES Capital. The specific loan amount associated with this multifamily community is $56.2 million.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $153,300,000
• Loan Type: Refinance
• Lender: ACRES Capital
• Landlord: Hathaway Development
• Brokers: Stephen Farnsworth, Hanes Dunn & Robert Henry - Walker & Dunlop

Hathaway Development secured this financing to refinance three multifamily communities located in Louisiana, Florida, and South Carolina. The arrangement was made through Walker & Dunlop. The property at Exchange at Indian Trail is managed by Evolve Management Group, which oversees the operations of the newly completed 312-unit property.