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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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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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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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