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Apex Trader Funding (ATF) - News

Sunrise Realty Trust Invests $14.1 Million in Senior Loan for an Austin Multi-Family Development

WEST PALM BEACH, Fla., July 08, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. ("SUNS" or the "Company"), an institutional commercial real estate lender focused on the Southern United States, today announced that it invested $14.1 million in a senior secured mortgage loan for the refinance of Jovie Belterra (the "Project"), a 150-unit 55+ age-restricted active adult multi-family rental development in southwest Austin. An affiliated fund invested the remaining $21.1 million of the total loan amount. Spanning over 140,000+ net rentable square feet, the Project is nestled in the Belterra Master Planned Community in Dripping Springs of Hays County in Austin's Hill Country, one of the most sought-after and fastest-growing counties in Texas, ranking among the top counties in growth in the United States over the past decade. The sponsor, Wilson Capital, is an Austin-based real estate developer specializing in the development of multi-family communities in Central Texas. The Project is comprised of two buildings featuring 150 apartments, along with a suite of resort-style, lifestyle focused amenities. One building has already been completed with the full Project expected to ...