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Tidal Real Estate Scores $78.6M Refi for Savannah Apartments
Walker & Dunlop has arranged a $78.6 million bridge loan to refinance the existing construction loan on Ann Street Lofts at 111 Ann St., a mixed-use multifamily property located in the Historic District of Savannah, GA. It was constructed in 2023.
The W&D NY Capital Markets team led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Michael Ianno and Christopher de Raet arranged the loan on behalf of client Tidal Real Estate Partners, LP, and identified the lender as BentallGreenOak. The five-year, floating-rate bridge loan retires previous construction debt on the property supplied by Cerberus Capital Management.
The property comprises 232 units across six stories, with the unit mix breakdown including 162 studios, 51 one-bedrooms and 19 two-bedrooms.
Amenities include a coworking space, an art studio, a fitness center, EV charging stations and more. The building also features 10,000 square feet of retail space that is being leased.
- ◦Financing
