Ascent Developer Solutions Funds $112 Million Bridge Refinance For Build-to-Rent And Multifamily In South Carolina

The transaction involves a Build-to-Rent and Multifamily development in South Carolina, encompassing a total of 665,590 square feet across 588 rental units. The financing secured totals $112,000,000, supporting cash-out and lease-up, as well as stabilization efforts for the two distinct developments consisting of 292 Build-to-Rent units and 296 Multifamily units.

Summary of transaction details:

• Property Type: Build-to-Rent/Multifamily
• Transaction Amount: $112,000,000
• Lender: Ascent Developer Solutions
• Originator: Garrett Stearns
• Loan Type: Refinance + bridge
• Date: 09/30/2026
• Market: South Carolina
• Units: 588
• Square Footage: 665,590

Garrett Stearns, the Senior Vice President and Loan Officer at Ascent Developer Solutions, played a crucial role in facilitating the financing. Notably, the firm funded two bridge refinance loans on the same day for a new client, highlighting their capacity to support significant projects in South Carolina.