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GlobeSt.com spoke with Real Estate Roundtable CEO Jeffrey DeBoer and Roundtable SVP and Counsel Ryan McCormick to get a better understanding of how this program will work.
The construction financing includes a $32.8 million senior loan provided by Ameris Bank and $5 million in preferred equity investment from RSE Capital Partners.
The general sentiment at PCBC was cautiously optimistic given the length of this cycle, but concerns are offset by strong demand for housing, rising wages and low employment, suggesting there is room to go.
The Winter Park, FL project named Watercrest Winter Park will be developed by Vero Beach, FL-based Watercrest Senior Living and Titan Development Real Estate Fund 1.
There were approximately 303,656 square feet of new leases and renewals executed in the three counties surveyed (Burlington, Camden and Gloucester), a gain of about 10% over the previous quarter, says WCRE's Jason Wolf.