SAVANNAH, GA – National multifamily housing investor and developer Standard Communities has secured $47 million in financing for the development of a 219-unit, class A multifamily project in Savannah, GA.
The loan was arranged by a Walker & Dunlop team led by Chris Rumul and Taylor Williams, on behalf of Standard Communities. The financing, sourced from a regional life insurance company, includes both construction and permanent financing in a single loan. The loan features a 12-year construction term with four years of interest-only payments.
The project, titled The Line, is situated within an Opportunity Zone near the Savannah River.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
