Updated Oct 14, 2026
Tartan Residential Secures $32.3 Million Construction Loan For Johnston Farms Development Site In Rock Hill SC
610 North Anderson Road
$32,300,000
Units
120
Asset Type
Development Site
Closing
Oct 21, 2025
About this deal
AI
The transaction involves a development site located at 610 North Anderson Road in Rock Hill, SC. The asset is part of a larger project, specifically a 120-unit workforce housing initiative developed by Tartan Residential Inc. The financing for this project consists of a total loan amount of $32,300,000, designated for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $32,300,000
- Loan Type: Construction
- Market: Rock Hill, SC
- Landlord: Tartan Residential
- Brokers: Kavin Barron & Ellie Savage - JLL
JLL Capital Markets was responsible for arranging the construction financing and equity required for the Johnston Farms project, ensuring the necessary financial support for the development initiated by Tartan Residential Inc.
On the Map
$32,300,000
Development Site
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Players
Rock Hill Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93