Colliers International - Atlanta arranged both the equity and construction financing for the $38 million development of The Retreat at Fairhope Village, a 240-unit luxury apartment community in Fairhope (Baldwin County) Alabama, a suburb of Mobile, Alabama.
The construction loan was placed with a pair of banks on behalf of the partnership led by Leaf River Group, LLC.
Individual units at The Retreat at Fairhope Village will feature quartz countertops, stainless steel appliances, plank flooring, bay windows, and will have an average unit size of 1,062 square feet. Site work begins in late March, and the project is expected to be substantially completed by mid-2019.
The site is situated adjacent to The Shops at Fairhope Village, a Publix anchored shopping center located on Highway 98 near its intersection with Veterans Drive. The Colliers equity and debt placement team included Forrest Speed and Ron Cameron.
About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
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