Joint Venture Receives $63 Million Construction Financing for Development Near Florida State
Tallahassee, Fla. — A joint venture between Charles Street Development and ACRES Realty Funding has received $63 million in construction financing for Renegade Apartments, a 153-unit student housing development in Tallahassee. The community will be located blocks from the university’s campus at 501 Chapel Drive. Bayview Asset Management originated the financing, funding the debt stack through its wholly owned subsidiaries Bayview PACE and Oceanview Life and Annuity Co. The project’s development team includes Humphreys & Partners, HPA Design Group and Ruscilli Construction Co. The community is scheduled for completion in 2024 and will be leased and managed by Asset living.