Boardwalk at Research Park

Huntsville, AL

Multifamily Refinance

Boardwalk at Research Park

MULTIFAMILY REFINANCE

ACRES Capital announced today that it has provided a $48.5 million bridge loan to refinance Boardwalk at Research Park, a newly constructed 287-unit Class A multifamily community located on Oakwood Road NW in Huntsville, Alabama.

• A mix of one, two and three bedroom residences.
• A rapidly expanding submarket within Madison County, and offers convenient access to Interstate 565, U.S. Highway 72, and State Routes 255 and 53.
• Boardwalk at Research Park is proximate to major regional employers, including Mazda Toyota Manufacturing, Boeing, Lockheed Martin, Northrop Grumman, Huntsville Hospital, and Redstone Arsenal, positioning the community to benefit from sustained employment growth and housing demand.

$49 Million

Loan Amount

Bridge Loan

Loan Product

“Boardwalk at Research Park is a high-quality, newly delivered asset in one of the Southeast’s most resilient and rapidly growing markets. The Property’s high-quality construction, robust amenity package, and proximity to major employment centers make it well-positioned for lease-up and long-term performance. We are pleased to partner with an experienced sponsor on this transaction.”

- Mark Fogel

Chief Executive Officer and President of ACRES

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ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Uniondale, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.