BWE Secures $103M Financing for 3 SE Rental Assets
BWE secured a $103 million Fannie Mae Multifamily credit facility execution to finance three market rate housing developments: The Murray in Summerville, SC; 1505 Demonbreun in Nashville, TN; and 131 Ponce in Atlanta, GA.
J. Tyler Blue, Paul Wallace, and Ty Blue originated the financing on behalf of FCA Partners. The loans in the facility have five-year terms and are full-term interest only.
J. Tyler Blue added, “The Fannie Mae credit facility is a powerful tool that offers borrowers, especially institutional owners, the ability to add or sell properties from their portfolio while still maintaining the facility.”
The Murray, located at 500 Lama Dr in Summerville, SC, is a 345-unit, mid-rise property constructed in 2021. 131 Ponce, located at 131 Ponce de Leon Dr in Atlanta, GA, is a five-story, 280-unit multifamily building constructed in 2014. 151 Demonbreun, located at 151 Demonbreun St in Nashville, TN, is a six-story, 209-unit multifamily property built in 2014.
