Mark Fogel Of ACRES Capital Provides $19M Loan To Refinance Development Site In Warwick RI

The asset involved in this transaction is a development site located at 175 Greenbush Road, Warwick, RI. The property is designed for an age-restricted multifamily project, encompassing 29 occupied townhouses and plans for the construction of 53 new garden-style apartments.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $19,000,000
• Lender: Mark Fogel - ACRES Capital
• Loan Type: Refinance
• Date: 08/15/2025

This refinance transaction enabled the funding necessary to cover existing debt on the occupied townhouses while facilitating the expansion of the multifamily project, contributing to the overall development in Warwick, RI.