Lument Closes $30M Construction Loan for Multifamily Community in Macon
Lument has closed a $29.6-million construction loan to fund the construction of Luxe Park Apartments, a 280-unit multifamily community in Macon, GA. The loan is non-recourse and 75% loan-to-cost and features a floating interest rate and three-year term.
James Kelly led the transaction for Lument on behalf of a developer that has built over 4,800 units in GA. Lument collaborated with Daniel Lerer of GFI Realty on the transaction.
“We have completed both bridge and agency acquisitions with this accomplished sponsor in the past, and now we’ve added construction loans for them as well,” said Lument’s Kelly. The community will consist of eight four-story buildings and a single-story clubhouse. Amenities include a fitness center, resort-style pool with waterfall and stone fire pits.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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