Updated Dec 10, 2025
BWE Secures $73.36M Construction Loan For Thrive Companies' RockPointe Multifamily Development In Columbus
2157 Quarry Trails Drive
$73,360,000
Units
486
Asset Type
MultiFamily
Closing
May 15, 2025
About this deal
AI
The asset involved in the context is a multifamily development located at 2157 Quarry Trails Drive in Columbus, Ohio. This project includes 486 residential units and is part of the 607-acre Quarry Trails master development, which encompasses retail, office, and residential components.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $73,360,000
- Loan Type: Construction
- Loan Terms: 36-month term with an option for an additional year extension
- Lender: Chad Kiner, Conor Lee & Grant Proegler & Brody Hoying - BWE
- Landlord: Thrive Companies
BWE secured the construction loan from a life insurance company on behalf of Thrive Companies to facilitate the development of RockPointe at Quarry Trails. This financing will support the third phase of the Quarry Trails development, integrating various elements including retail and office space along with residential units.
Players
Columbus MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93