Drever Partners recently closed a $15.75 million permanent 10-year loan with Franklin Templeton for The Penleigh – Branson Row apartments, a former hotel located at 76 Country Blvd. in Branson, Missouri. The company’s mission is to provide affordable housing in communities with workforce housing needs and CoreVest Finance provided the original financing and construction loan for the renovation as a 60% Loan Total Value (LTV) permanent first loan.
Due to the expanding economy of Branson and constrained housing factors, Drever Partners is also raising capital for their second property – The Penleigh – Live Oak which adjoins The Penleigh – Branson Row; converting its 143-key Hall of Fame Motel into 138 micro apartments. Managing Galen Drever commented “The incredible performance of our first property has presented new investors an opportunity to experience repeated success in our second project.”
