COLUMBUS, OHIO — Lument has provided a $53.1 million balance sheet loan for the refinancing and lease-up of South Bank at Quarry Trails, a 266-unit luxury apartment community built in 2025 in Columbus. Ryan Duling of Lument led the transaction on behalf of the borrower, Columbus-based Thrive Cos. The loan refinances existing construction debt, funds reserve accounts and supports the lease-up of the mid-rise property. The loan features an adjustable interest rate and interest-only payments for the two-year term.
South Bank at Quarry Trails is part of a master-planned development in the Upper Arlington submarket of Columbus. Amenities include a clubhouse, saunas, outdoor pool and the Quarry Trails Metropark. Twenty percent of the units are designated as affordable housing.