JEM Holdings has successfully secured $37.25 million in funding for the construction of The Parker Aiken Apartments, a multifamily development consisting of 14 buildings and 336 units located in Aiken, South Carolina.
The financing was obtained through the efforts of IPA Capital Markets team members Max Herzog, Marko Kazanjian and Andrew Cohen who worked closely with Protective Life Insurance Company to secure the funds.
According to Herzog, JEM’s impressive track record combined with a promising market like Aiken made it possible for their team to attract interest from life insurance companies.
Under this seven-year loan agreement, JEM will benefit from competitive fixed interest rates and a loan-to-cost ratio of 60%.
Spanning over 30 acres, The Parker Aiken Apartments will feature top-notch amenities such as a clubhouse complete with fitness center and recreation areas. Additionally there will be co-working spaces available along with an outdoor grilling area perfect for dining al fresco. Residents can also enjoy access to an inviting pool area complete with lounge chairs as well as take their furry friends out at the on-site dog park. Other facilities include leasing office services and covered mail kiosks making this development truly exceptional.
