Trillium Capital Resources, LLC, a full service commercial mortgage broker, announced today it arranged financing for a $37.5 million dollar new construction loan for a 308-unit luxury Class A property located in Canton, Georgia. The loan, which closed in January, was structured under U.S. Housing and Urban Development’s (HUD) 221 (d)(4) loan program. The loan terms included construction and a 40-year fully amortizing loan to cost ratio of 85% resulting in well leveraged, long term, low cost of debt financing. In addition to arranging the financing, Trillium also arranged and assisted in the land purchase.
The project will feature upscale amenities including a furnished clubhouse, a business center with complimentary Wi-Fi, resort style swimming pool, a state-of-the-art fitness center, and sauna. Also, residents will have access to a playground, outdoor walking trails, dog parks, garages and grills.
Construction should be completed by fall of 2019.
For more information, please visit: www.trillium-capital.com