Walker & Dunlop arranged $55,500,000 in construction and permanent financing for Thrive Companies’ development of Quarry Trails Apartments and Quarry Trails Townhomes and Flats, a 293-unit multifamily and 100-unit townhome project within a decommissioned quarry in Columbus, OH.
Thrive’s adaptive reuse plan for Quarry Trails reflects the community’s natural surroundings, designed as an extension of the 180-acre park with possible green features in mind. Phase one also includes a multi-use downtown area containing an office building, 20,000 square feet of retail and a community center.
The construction financing was arranged by Jeff Morris, Chad Kiner and A.J. Mangan, of Walker & Dunlop’s Ohio Capital Markets group. The team identified two leading banks local to the Columbus region as the ideal capital partners to finance the land acquisition and construction for the community. They arranged a competitive three-year construction and semi-permanent financing term and a five-year financing term, respectively.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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