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Domain Cos. Secures $38M Loan for Development

NEW ORLEANS-Working with Oak Grove Capital, the developer obtained the 40-year term loan for its 209-unit Paramount at South Market, part of a mixed-use project, the South Market District.

By Amy Wolff Sorter | Updated on June 30, 2013

NEW ORLEANS-Developer Domain Cos. has secured financing to the tune of $38.3 million to develop the 209-unit Paramount at South Market. The developer worked with Oak Grove Capital to obtain the HUD 220, 40-year loan, which carries a 40-year amortization period.

The apartment complex, which will also boast 22,000 square feet of retail space, has an estimated all-in construction cose of $48.4 million, and will occupy a block bordered by Girod, Rampart, Lafayette and O’Keefe streets. Construction started on the project on June 21.

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