BWE secured a $28 million loan to refinance Riverview North, a 240-unit, garden-style multifamily development in Chattanooga, Tennessee.
Jim Collins, executive vice president in BWE’s Knoxville, Tennessee, office, originated the fixed-rate loan with two years of interest-only payments from Nationwide Life Insurance Co. on behalf of the Knoxville-based Dominion Group.
Riverview North, located at 700 Mansion Circle, contains a mix of 240 two- and three-bedroom units, which feature amenities including efficient appliances, air conditioning, carpeting, patio/balcony, washer/dryer hookup, and are cable ready.
The property’s shared amenities include a pool, BBQ/picnic area, outdoor pavilion with grill and swings, clubhouse, on-site maintenance, and a planned state-of-the-art fitness center. Renovations to the property include new roofing, new laminate flooring, granite countertops, new cabinets, new appliances, new fixtures in the bathrooms, tile ceilings, and light fixtures.
Located in Chattanooga’s sought-after Northshore neighborhood, residents at Riverview North have access to a range of high-quality retailers, nature-based walking trails, golf courses and country clubs, and popular dining options, all within walking distance of downtown Chattanooga.
