250-Unit Arcadia Huntsville Lands $53M Refi to Replace Construction Loan

Features October 9, 2026| | Amy Wolff Sorter

Bobo Development Group and its limited partner Revitate obtained $53 million in senior refinancing for the two-year-old Arcadia Huntsville at 4810 Bradford Dr. NW in Alabama. JLL Senior Managing Director Gregg Shapiro told ApartmentBuildings.com. that a debt fund provided the loan, which will replace the original construction loan.

“The property was capitalized with Opportunity Zone capital, so the ownership expects to hold the property for the required qualifying period,” added Shapiro, who arranged the loan with JLL colleagues Anthony Sansone (Director), Kelsey Bawcombe (Vice President), Connor McCarthy (Associate) and Jada Cooper (Analyst).

Shapiro said many aspects of the deal appealed to JLL.

For one thing, Arcadia is in Cummings Research Park, which is home to more than 300 companies and 26,000 employees. The property offers proximity to major employers, retail and dining.

The sponsor was a positive factor as well.

“Bobo Development Group is a third-generation Alabama operator that has already developed in Huntsville, and Revitate is an experienced national Opportunity Zone investor,” he said. “This is our first Deal with Bobo Development, and we’re excited to forge a new relationship.”

Arcadia Huntsville offers studio, one-bedroom, and two-bedroom floor plans and includes 18,000 square feet of ground-floor retail space that includes tenants Anytime Fitness and Breathe & Brew. The property is near the U.S. Space & Rocket Center, the University of Alabama in Huntsville, Bridge Street Town Center and the Alabama School of Cyber Technology and Engineering.

On-site amenities include a heated saltwater pool, a clubhouse with a demonstration kitchen, a state-of-the-art fitness center with Echelon bikes, outdoor grilling stations and lounge areas with gas fire pits, dedicated co-working spaces, a dog park and pet spa. and electric vehicle charging stations.

Shapiro said that the Class A asset, which is approaching stabilization, has National Green Building Standard Bronze certification.

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Brokers

Remax Real Estate Professionals

Jared Ennis

Rick Recckio

Eamonn McConnell

Lenders

Management

Essex Property Trust, Inc.

Josh A

Bob Tuteur

Andrew Schildcrout