Evolve Companies Secures $41 Million Refinance From BlackRock For 280-Unit Multifamily In Wellford SC

The property asset involved in the transaction is a multifamily apartment community located at 510 Cedar Tree Road in Wellford, South Carolina. The asset comprises 280 units, facilitating residential living in the market. Evolve Companies has secured a loan for this property, specifically a refinancing loan amounting to $41 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $41,000,000
• Address: 510 Cedar Tree Road
• Market: Wellford, SC
• Lender: BlackRock
• Landlord: Evolve Companies
• Loan Type: Refinance

The refinancing for the 280-unit Evolve New Hope Farm apartment community was arranged by Northmarq’s West Palm Beach debt and equity team, led by Chris Hammel. This team played a crucial role in the successful execution of the loan secured from BlackRock.