Private Construction Loan for Mixed-Use Development in Woodstock, Georgia

BridgeInvest, a direct CRE private lending firm, closed a $10.95 MM ground-up construction loan for a 48,500-square-foot mixed-use development located in Woodstock, GA, a suburb just north of Atlanta. The collateral includes two 4-story buildings. The first building will contain 5,000 SF of ground-floor retail space with seven condos over the remaining three floors, while the second building will include a mix of 17,300 SF of restaurant and retail and 11,000 SF of office. The Sponsor will use proceeds to pay for construction costs and lease-up across the property.

BridgeInvest was able to successfully structure a complex deal incorporating non-typical collateral, including a letter of credit and a pledged securities account to meet the Borrower’s needs.

This is the Sponsor’s 2nd commercial real estate development. Although their experience is limited, BridgeInvest believes the Sponsor’s excellent track record across various entrepreneurial ventures will lead to success in commercial real estate.

This project will provide high-quality products in an up-and-coming suburb with an optimistic growth outlook. The property will benefit from its location within downtown Woodstock, which has seen a major transformation over the past decade into a thriving and revitalized commercial, retail, and residential district. The area is expected to continue seeing increased growth and development as Metro Atlanta continues its northern sprawl.

This CRE construction loan was funded in February 2021.