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.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.