GBT Realty Corporation Secures $88M Loan For Housing Development In Carnes Crossroads

GBT Realty Corporation, based in Brentwood, TN, has secured $88 million to construct The Village at Carnes Crossroads, a housing development comprising 306 multifamily homes and over 11,000 square feet of retail space in Carnes Crossroads, near Charleston. The development site spans approximately 11.82 acres and is located along US Highway 17A, 3rd Avenue, and St. James Avenue in Goose Creek, SC.

Summary of transaction details:

• Property Type: Development Site
• Loan Amount: $88,000,000
• Loan Type: Construction
• Address: US Highway 17A Along 3rd & St. James Ave
• Market: Goose Creek, SC
• Brokers: Chip Sykes, Matt Stewart & Wyatt Strahan - JLL
• Lender: Bank of America & Meta Real Estate Partners
• Landlord: GBT Realty Corporation

The deal was facilitated by JLL brokers Chip Sykes, Matt Stewart, and Wyatt Strahan. GBT Realty Corporation, the landlord in the transaction, will oversee the construction of The Village at Carnes Crossroads, which aims to provide housing and retail options in the Carnes Crossroads area. The housing development will consist of 306 multifamily homes, catering to the growing demand for residential properties in the region. With over 11,000 square feet of retail space included in the project, The Village at Carnes Crossroads will also offer convenient amenities and services to its residents.