T-Max Lending Provides $24MM Loan for Construction of Rental Property

T-Max Lending facilitated the financing of a 400-unit luxury apartment complex in Atlanta, with the developer securing over $24 million for the project._x000D_
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Brittany Thomas, a top broker from Fraction Capital Group, represented the borrower in sourcing the $24 million loan. The developer will use the five-year agency loan, which includes four years of interest-only payments, to refinance the property._x000D_
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Mason Simmons, senior managing director of T-Max, and Jackson Valerie, senior vice president of T-Max, who led the negotiations for the financing._x000D_
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“Refinancing part of an existing development can be challenging,” Simmons said. “However, the luxury appeal and prime location of the property made it a highly attractive asset for lenders.”_x000D_
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“With over 90% occupancy, Jackson presented us with several excellent lending options, allowing us to secure the best possible deal,” Robinson Beam Marquis, president of Fraction Capital Group, said. “His expertise in financing lets us focus on our development pipeline of over 1,000 units and other major commercial projects.”