Bristol Closes $79M Refi on Santa Rosa Rental Community
Bristol Development snagged a $79 million refinancing on The Jewel at Santa Rosa Beach, a 408-unit multifamily development at 158 Malachite Way, in Santa Rosa Beach.
A Walker & Dunlop Capital Markets Real Estate Finance team, led by Jeremy Pino, Livingston Hessam, Carl Passmore and Kyle Miller, coordinated the transaction on behalf of Bristol . The team worked alongside Walker & Dunlop FHA Finance’s Keith Melton and David Strange to arrange the interest-only, non-recourse, bridge loan with an institutional debt fund.
The Jewel at Santa Rosa Beach features residences with one-, two-, and three-bedroom layouts. Amenities include a clubhouse, fitness and yoga studio, two swimming pools, coworking space, golf lounge, pet spa and park, and outdoor recreation areas.
The Jewel at Santa Rosa Beach is located along US Highway 98, just three miles north of the 30A corridor, offering convenient access to beaches, retail, dining, and major employment centers throughout the Florida Panhandle.
Other News
Development Site Trades within Atlantic Avenue Mixed-Use Plan
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
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Fourth Sale Closes in Anaheim Multifamily Portfolio
Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
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JLL Arranges $135M Financing for Luxury Multifamily in Yonkers
JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
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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