JLL Secures $24M Construction Loan for Savannah MF Project
JLL has secured a $24 million construction loan for The Lowe, a 135-unit multi-housing development to-be-built in Savannah, GA.
The Lowe is located at 1500 Montgomery St. in the historic Victorian District of Savannah. This location is within walking distance of the Savannah College of Art and Design and a number of parks, retail and entertainment areas within the historic district. The community will consist of a four-story, podium style building boasting best-in-class amenities, including a pool, clubhouse, fitness center, outdoor grills and will be one of the few properties with secured tenant parking.
John Gavigan of JLL secured the construction loan through lender ACRES Capital out of Westbury, New York. The borrower was MED Developers. MED Developers team was led by Nick Finland, their head of development.
- ◦Development