(Read more on the debt and equitymarkets.)

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WOODSTOCK, GA-The 160-acre Ridgewalk Land located alongInterstate 575 has received $18 million in refinancing. The15-month loan was provided by Chicago-based Wrightwood Capital andsourced through a direct relationship between the lender and theland owner, Atlanta-based Ridgewalk Holdings LLC. The land is acombination of various parcels assembled over the last 10 years andoriginally covered more than 340 acres.

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"The refinancing was to take out some existing debt and toprovide some additional dollars to do site work to facilitate thesale of some of the land," Wrightwood Capital senior regionaldirector, investments Frank Sullivan tells GlobeSt.com.

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Several tracks have already been sold and are currently beingdeveloped for residential use including Alta at Ridgewalk, a340-unit apartment complex, and Magnolia at Ridgewalk, a 252-unittownhouse project. The owner plans to sell a portion of theremaining parcels for retail, mixed-use and residentialdevelopments, according to Sullivan.

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Ridgewalk Holdings is a real estate company with expertise inmultifamily, industrial, retail and mixed use developments, as wellas entitlements. Ridgewalk Holdings is evaluating its options andmay develop some of the land itself or in partnership with othercompanies, he says.

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Located about 30 miles northwest of Downtown Atlanta, Woodstockis an older community that has undergone redevelopment over thepast 10 years with several new retail, single-family andmultifamily developments planned or under construction in the area.A full intersection is planned for Ridgewalk Parkway and Interstate575, which will allow direct access from the Ridgewalk Land to theinterstate and facilitate new development in the area.

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