{"id":78084,"date":"2022-11-11T19:14:40","date_gmt":"2022-11-11T19:14:40","guid":{"rendered":"https:\/\/loopbeatzz.info\/wp\/acre-announces-closing-of-54-5m-loan-for-abberly-foundry-in-nashville-tenn-streetinsider-com\/"},"modified":"2022-11-11T19:14:40","modified_gmt":"2022-11-11T19:14:40","slug":"acre-announces-closing-of-54-5m-loan-for-abberly-foundry-in-nashville-tenn-streetinsider-com","status":"publish","type":"post","link":"https:\/\/loopbeatzz.info\/wp\/acre-announces-closing-of-54-5m-loan-for-abberly-foundry-in-nashville-tenn-streetinsider-com\/","title":{"rendered":"ACRE Announces Closing of $54.5M Loan for 'Abberly Foundry' in Nashville, Tenn. – StreetInsider.com"},"content":{"rendered":"

FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 11\/11\/2022
Latest loan from real estate private equity firm\u2019s debt fund \u2018ACRE Credit I\u2019 will support HHHunt\u2019s acquisition of 231-unit multifamily property<\/i><\/b>
NASHVILLE, Tenn.–(BUSINESS WIRE)– ACRE, a global real estate private equity firm, today announced it has finalized a $54.5 million loan with HHHunt Corporation (HHHunt), to support the newly-built multifamily community \u2018Abberly Foundry,\u2019 formerly known as \u2018Alta Foundry,\u2019 in Nashville, Tennessee.
This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20221108005830\/en\/<\/a>
Abberly Foundry, a 231-unit multifamily community in Nashville, Tennessee. (Photo: Business Wire)
Issued through ACRE\u2019s debt fund \u201cACRE Credit I\u201d, the loan will aid HHHunt\u2019s purchase of the 231-unit community. Executed in October, the three-year agreement includes options for two single-year extensions.
Roger Edwards of JLL served as broker for the deal.
\u201cNashville has proven to be a resilient market in recent years, with low unemployment rates, an increase in corporate expansions to the area, and a rental market that continues to perform in terms of occupancy levels, new product delivery, and more,\u201d said Sam Browne, Vice President of ACRE. \u201cWe\u2019re proud to play a part in HHHunt\u2019s acquisition of Abberly Foundry, and look forward to continuing this partnership and seeing the property reach its full potential under its new ownership.\u201d
A regional real estate development, building, and management company, HHHunt owns and manages over 8,800 apartment homes in Virginia, Maryland, North Carolina, South Carolina, Tennessee, and Georgia.
Since its launch, \u2018ACRE Credit I\u2019 has raised $509 million of equity and has closed and committed to providing over $2 billion in loans across more than 50 transactions to support the acquisition, lease-up, redevelopment, and recapitalization of multifamily assets in growing secondary markets across the U.S. such as Miami and Orlando, Florida; Denver, Colorado; Durham, North Carolina; Charleston, South Carolina; and Dallas, Texas.
\u201cACRE remains steadfast in our mission to provide debt financing for rental housing developments across the country, and the agreement with HHHunt marks yet another exciting milestone for the company, \u201c said Browne. \u201cWe\u2019re committed to supporting the multifamily industry through our fast-growing lending platform, and we\u2019re honored to stand as a valuable, reliable partner to those continuing their efforts to improve the health of this industry from the inside out through acquisition, ground-up development, and more.\u201d
Abberly Foundry, which was developed by Wood Partners and reached completion in 2022, is located at 640 21st Avenue North in Midtown Nashville. The community features a mix of studio, one-, and two-bedroom units, ranging in size from 582 square feet to over 1,200 square feet, across three residential buildings. As of October 2022, the property was 79 percent occupied.
The community offers residents an array of modern features, including quartz countertops, custom shaker-style cabinetry, designer pendant lighting, stainless steel appliances, spacious walk-in closets, hardwood-style plank flooring, private patios and balconies, and integrated smart home technology. Amenities include a rooftop Sky Lounge with panoramic views of downtown Nashville, electric vehicle charging stations, a pet spa and dog park, a co-working space, a 24\/7 package room, and an art installation.
Abberly Foundry residents also enjoy convenient access to Nashville\u2019s business, healthcare, technology, and higher education establishments, as well as an array of outdoor recreational areas such as Marathon Village, Watkins Park, and Centennial Park.
About ACRE<\/b>
ACRE is a vertically integrated private equity firm specializing in commercial real estate through active investments in both direct equity and debt capital markets as well as special situation opportunities. ACRE manages a global portfolio in excess of $3.1 billion concentrated in U.S. multifamily with holdings in the United Kingdom and Southeast Asia through separate verticals. ACRE has offices in Atlanta, New York, and Singapore.
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View source version on businesswire.com<\/a>: <\/span>https:\/\/www.businesswire.com\/news\/home\/20221108005830\/en\/<\/a><\/span>
Wes Johnson
Antenna | Spaces
(773) 453-7432
[email protected]<\/span><\/a>
Source: ACRE
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FREE Breaking News Alerts from StreetInsider.com! StreetInsider.com Top Tickers, 11\/11\/2022 Latest loan from real estate private equity firm\u2019s debt fund \u2018ACRE Credit I\u2019 will support HHHunt\u2019s acquisition of 231-unit multifamily property NASHVILLE, Tenn.–(BUSINESS WIRE)– ACRE, a global real estate private equity firm, today announced it has finalized a $54.5 million loan with HHHunt Corporation (HHHunt), […]<\/p>\n","protected":false},"author":1,"featured_media":78085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-78084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/posts\/78084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/comments?post=78084"}],"version-history":[{"count":0,"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/posts\/78084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/media\/78085"}],"wp:attachment":[{"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/media?parent=78084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/categories?post=78084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/loopbeatzz.info\/wp\/wp-json\/wp\/v2\/tags?post=78084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}