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Thursday, 22 March 2018

Hall Lends $35.5Mln Against St. Petersburg, Fla., Apartment Project

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Hall Structured Finance has provided a $35.5 million loan for the construction of Vantage, a 211-unit apartment project in St. Petersburg, Fla.

DevMar Development of Bingham Farms, Mich., is developing the property at First Avenue and 16th Street. It's expected to be completed by September 2019. Lutz Financial Services of Birmingham, Mich., arranged the financing.

Units at the property will have an average of 631 square feet, as well as 100-sf balconies. The property will include a rooftop swimming pool, terrace and veranda, fitness...

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: St. Petersburg
  • States: Florida
  • Sector: Multifamily
  • Subject: Development/Construction (DEV), Mortgages/Financing (MOR)
  • Valuation: Between $25 million and $50 million
  • Private: Yes
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Dan Moynihan

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