(Read more on the debt and equity markets andthe multifamilymarket .)
GAINESVILLE,FL-The Miami-based Foram Group has closed on a $45-millionconstruction loan to develop the 334-unit the Bartram apartmentbuilding on Old Archer Road. SunTrust Banks Inc. provided theloan.
The four-story project will feature one-, two- and three-bedroomapartments and will be one of the first wood-frame LEED certifiedrental properties in the country. Project amenities include a poolwith fountains, a lap pool, three outdoor fire pits, cyber café andfitness center. Construction on the project, which will becompleted in five phases, began in April, Foram Developmentpresident Keith Colgan tells GlobeSt.com. Occupancy of the firstphase of the project is expected in May 2008, with occupancy of theentire building to be completed by Aug. 1, 2008.
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