BWE Secures $73M in Financing for MF Development in Ohio
BWE has secured a $73.36 million loan to finance the construction of RockPointe at Quarry Trails, a 486-unit apartment complex that will serve as the third phase of the Quarry Trails Master Development, a 607-acre, mixed-use community in Columbus, Ohio.
A team from BWE’s Columbus office, consisting of Chad Kiner, senior vice president; Conor Lee, senior vice president; Grant Proegler, senior transaction manager; and Brody Hoying, transaction manager, originated the financing from a life company on behalf of Thrive Companies, a Columbus-based real estate developer. The construction loan has a 36-month term with an option for an additional year extension. BWE had also secured financing for previous phases of the project.
“With its mix of retail, office space, and residential buildings, RockPointe is the perfect embodiment of the ‘live, work, play’ communities that are so desirable to residents right now, and BWE is proud to help finance developments like these in Ohio and across the country,” said Proegler.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout