PELHAM, ALA. — Trillium Capital Resources has arranged an $18.4 million loan for Grand Reserve of Pelham, a 184-unit apartment complex in Pelham, roughly 20 miles south of Birmingham. Trillium arranged the 12-year, fixed-rate loan through Aegon Insurance Group on behalf of the borrower, an apartment operator based in Phenix City, Ala. The borrower used the loan to refinance an existing construction loan.