January 7, 2021
Newmark has secured $79 million in FHA financing for multiple multifamily assets in Knoxville, TENN., including Kingston Pike Village, a 228-unit apartment community in Farragut.
David Pinson and Bill Tanker of Newmark arranged $36.6 million in FHA 221(d)(4), a combined construction/permanent loan, on behalf of Watt Road Investments, LLC for the new construction of Kingston Pike Village. Kingston Pike Village will offer a full range of amenities including a fitness center, a pool, a game room and a grill station. The community is on an adjacent lot to a brand-new grocery store being developed simultaneously.
“Kingston Pike Village will be an outstanding apartment community for families in one of the premier towns in East Tennessee,” said Newmark’s Tanker. “Newmark worked with the development team every step of the way to bring this project to fruition. We are so pleased to provide the construction and permanent financing to fund the project.”
For comments, questions or concerns, please contact David Cohen