GrayCo has secured a $34 million refinancing for Bristol Park at Riverchase, a 300-unit apartment complex in Madison, TN. The property is located near Nashville and was originated by BWE’s Charles DuBose and David Foulk on behalf of GrayCo through Fannie Mae. The loan has a seven-year term with interest-only payments throughout its duration.
According to DuBose, the decision to refinance was driven by GrayCo’s desire to take advantage of lower interest rates and secure fixed-rate financing while also freeing up equity tied up in the asset.
Situated at 100 Riverchase Boulevard, Bristol Park Apartments offers residents an array of amenities such as a fitness center, sand volleyball court, pool, business center,and pet play area. The community features one-, two-, and three-bedroom units with various perks including built-in home offices,f ireplaces,and attached garages.
This transaction marks another successful venture for GrayCo as they continue their commitment to providing top-notch rental communities in desirable locations.
