$50m refinancing secured for class A multi-housing property in the Wilmington MSA

Latitude Management Real Estate Holdings has secured a $50 million bridge loan for the refinancing of Harrington Square, a class A mixed-use apartment complex located in Leland, N.C., within the Wilmington MSA.

JLL worked on behalf of Latitude Management Real Estate Holdings to secure the four-year, floating-rate bridge loan from Bridge Investment Group Holdings. 

The Harrington Square apartments feature a 14-building complex with 349 units, developed in two phases. The first phase, completed in 2018, includes a 11,375-square-foot retail component and 189 apartment units, while the second phase, finished in 2020, added an additional 144 units. Since acquiring the property in May 2021, Latitude added an additional 16 units, bringing the total unit count to 349. 

Wit