COLUMBIA, S.C. — Bellwether Enterprise has closed a $26.4 million loan for the acquisition and rehabilitation of Pavilion Towers, a 240-unit apartment community located on Huger Street in Columbia. The property is situated near downtown Columbia, Finlay Park, the Congaree Vista entertainment district and the Vista Greenway biking and walking trail. The borrower, Vista Towers Columbia LLC, plans to use the loan to fund an $11 million renovation program at the property. The developer, Greenville, S.C.-based Homes Urban, will upgrade the Pavilion Towers’ existing units and convert an adjacent office building into a new community space with 23 additional residences. Matt Good of Bellwether Enterprise arranged the construction/permanent loan through Freddie Mac’s acquisition rehabilitation program.
Pavilion Towers, a 240-unit apartment community located on Huger Street, is situated near downtown Columbia, Finlay Park, the Congaree Vista entertainment district and the Vista Greenway biking and walking trail.
Bellwether Enterprise Closes $26.4M Acquisition Loan for Apartment Community in Columbia
171