In a tough market for refinancing, 3650 REIT announced that it had originated a $103 million mezzanine loan for a multifamily portfolio of 12 assets with more than 3,500 apartment units and 3.7 million rentable square feet. The properties span four states: Louisiana, South Carolina, Georgia, and Tennessee.

The units include a mix of one-, two-, and three-bedroom apartments with an average size of 1,200 square feet. “Interior units feature modern finishes, high-end appliances and high ceilings with crown moldings, private balconies/patios, in-unit washer/dryers, walk-in closets and soaking tubs,” the company said. “Nearly one third of the units have been recently renovated with continuing interior renovations underway.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erik Sherman


GlobeSt. Multifamily Fall 2023Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.