Lument announced the closing of a $53.1 million balance sheet loan to facilitate the refinance and lease-up of South Bank at Quarry Trails, a 266-unit luxury multifamily community built in 2025 in Columbus, Ohio.

Ryan Duling, senior managing director for Lument based in Columbus, led the transaction. The sponsor is Thrive Companies, a real estate developer focused on large-scale, mixed-use communities. Also based in Columbus, Thrive has developed more than 38 communities and over 4,000 residential units.

The balance sheet loan refinances existing construction debt, funds reserve accounts, and supports the lease-up and seasoning of the Class A mid-rise community. The loan has an adjustable interest rate and a two-year term, which is interest-only throughout.

“We are thrilled to collaborate with one of Ohio’s premier developers on the refinance and lease-up financing of this top-tier property,” said Duling. South Bank at Quarry Trails is part of a master planned development with one-, two-, and three-bedroom units.

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