Premier Gainesville apartment management company and commercial real estate developer, Trimark Properties, just announced a $22M refinancing deal for Savion Park, Tuscana, and Solaria, three of their profitable luxury apartments.
Combined, the properties feature over 114 units and 157,000 square feet of living space. Located near the University of Florida campus, Sorority Row and Downtown Gainesville, these apartments are positioned in a prime, high-demand area for the 50,000+ students living in the Gainesville area who seek a superior level of student housing.
Paul Ahmed of Walker and Dunlop organized the loan through JP Morgan, negotiating a decreased interest rate and new 10-year fixed-rate financing for Trimark. With a history of leasing to full capacity, a consistent reputation in quality tenant service, and decades of experience in unique, sustainable architectural designs, Ahmed and others financers viewed the deal with the popular Gainesville student housing company as a low-risk investment.
“The partnership at Trimark has a history of successful projects,” said Ahmed. “The risk of the investment is lowered from the perspective of the lenders, allowing for us to capitalize on a low rate at exceptional terms.”
Headquartered in Gainesville, Trimark Properties features an impressive portfolio of twenty-five luxury and affordable apartment complexes, fully-renovated historic houses, and commercial spaces for beginning and established companies. The company’s new refinancing deal indicates Trimark’s continued and future success in the niche luxury student housing market, solidifying its reputation as a powerful real estate development company in Gainesville.