**Branch Properties Secures $47M Refinance Loan for Elevate Navarre Apartments**
Branch Properties has secured a $47 million loan to refinance Elevate Navarre, a newly developed, 332-unit multifamily community in Navarre, Florida.
CBRE’s Blake Cohen arranged the three-year, fixed-rate, interest-only loan on behalf of the sponsor and developer. The financing was provided by Voya Investment Management and will be used to refinance an existing construction loan.
Completed in 2022, Elevate Navarre is located at 1900 Elevate Avenue. The garden-style residential complex spans 20.2 acres and features 11 three-story residential buildings, along with a clubhouse and leasing center. The property offers one-, two-, and three-bedroom units, averaging 893 square feet in size. Each unit includes private patios or balconies.
Community amenities include a resort-style pool with a sun deck, a club room with lounge space and billiards, an outdoor kitchen and dining area, a modern fitness center, and a dedicated pet spa.
Conveniently situated just north of Navarre Parkway, the complex is only 2.5 miles from Navarre Beach and the Gulf Coast. It is adjacent to a Publix-anchored shopping center and within 23 miles of Eglin Air Force Base, which employs more than 20,000 personnel.
