(Read more on the debt and equity markets and the multifamily market .)

GAINESVILLE, FL-The Miami-based Foram Group has closed on a $45-million construction loan to develop the 334-unit the Bartram apartment building on Old Archer Road. SunTrust Banks Inc. provided the loan.

The four-story project will feature one-, two- and three-bedroom apartments and will be one of the first wood-frame LEED certified rental properties in the country. Project amenities include a pool with fountains, a lap pool, three outdoor fire pits, cyber café and fitness center. Construction on the project, which will be completed in five phases, began in April, Foram Development president Keith Colgan tells GlobeSt.com. Occupancy of the first phase of the project is expected in May 2008, with occupancy of the entire building to be completed by Aug. 1, 2008.

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