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ACRE has provided $26.5 million to MED Developers for the refinance of The Lowe, a newly built, class-A multifamily development in Savannah

ACRE Provides MED Developers with $26.5 Million to Refi The Lowe

ACRE has provided $26.5 million to MED Developers for the refinance of The Lowe, a newly built, class-A multifamily development in Savannah.

The loan was brokered by John Gavigan, managing director of JLL Capital Markets, to refinance MED Developers’ existing construction debt. Pegasus Residential will manage the property.

“Despite the strong demand for additional multifamily development across the U.S., there is still significantly less liquidity in the market due to recent rate hikes and persistent inflation allowing ACRE to gain market share providing institutional sponsors with the debt,” said Sam Browne, vice president of ACRE. 

The Lowe opened in March. It has 135 studio, one- and two-bedroom residences. Units feature keyless entry, high speed Wi-Fi, quartz countertops with designer backsplashes, private balconies, and in-unit washers and dryers. Community amenities include resort-style swimming pool, fitness center, luxury club room, pet spa, grilling area, covered parking and bicycle storage room.


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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

  • ◦Financing
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