Garrett Stearns Of Ascent Developer Solutions Provides $112 Million Refinance Bridge Loan In South Carolina

The asset involved in this transaction is a Build-to-Rent/Multifamily development located in South Carolina, comprising a total of 588 rental units over 665,590 square feet, structured into a 292-unit Build-to-Rent and a 296-unit Multifamily development.

Summary of transaction details:

• Property Type: Build-to-Rent/Multifamily
• Transaction Amount: $112,000,000
• Units: 588
• Square Footage: 665,590
• Lender: Garrett Stearns - Ascent Developer Solutions
• Loan Type: Refinance + bridge

The financing was secured for cash-out, lease-up, and stabilization as part of the refinancing strategy. Garrett Stearns served as the Senior Vice President and Loan Officer at Ascent Developer Solutions, coordinating the funding for this dual bridge refinance loan on the same day for the client.