Terra and New Valley have secured the construction financing from Bank OZK to fund the new 23-acre, 460-unit multifamily community, Natura Gardens.
The firm sold the 230-unit Port St. Lucie community to Covenant Capital Group, after implementing $3 million in property renovations.
Last month Fitch Ratings’ US CMBS delinquency rate dropped 23 bps to 4.10%.
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