LOVE FUNDING SECURES $24.9M CONSTRUCTION LOAN FOR ST. PAUL SQUARE

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MCKINNEY, TEXAS — Love Funding has closed a $24.9 million construction loan for the 211-unit St. Paul Square, a Class A multifamily property that will be part of Adriatica Village in McKinney. Adriatica Village is a 45-acre town center development modeled after a Croatian fishing village known as Supetar. David Brooks and George Fuller are leading the efforts of Adriatica Village's development, which will feature European architecture, an old bell tower, cobblestone streets, a hand-carved dove fountain and a secluded island chapel. Laura Saull-Smith of Love Funding arranged the loan through HUD's Section 221(d)(4) loan insurance program.

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