NKF has secured a $26 million loan to refinance Evolve at Stones Bay, a 300-unit apartment community in Sneads Ferry, NC. Josh Davis, Chris Caison and C.J. Webb of NKF represented Evolve Cos. in securing the 15-year, fixed-rate financing through lender Freddie Mac.

The garden-style community is owned and managed by the Evolve Cos. and includes a mix of one-, two- and three-bedroom units. Amenities include a business center, fitness center, game room, grilling area, playground, pool and volleyball court.

“Despite the uncertainty of the economic environment due to the novel coronavirus pandemic, our team displayed a great effort in assisting Evolve in securing the Freddie Mac refinance loan,” said Davis. “The borrower was able to lock in a low rate with an attractive spread on a long-term fixed-rate structure for the refinancing of Evolve at Stones Bay shortly after completing a significant expansion of the property.”

For comments, questions or concerns, please contact David Cohen