HSF Originates $21.95 Million Construction Loan for River Creek Lofts in South Lebanon, Ohio

DALLAS – September 25, 2024 – Dallas-based HALL Structured Finance (HSF) announced today that the company has originated a new first lien construction loan commitment totaling $21.95 million to develop a multifamily development, River Creek Lofts, in South Lebanon, Ohio, a community 30 miles northeast of Cincinnati. The project is being developed by VCARVE Constructions.

River Creek Lofts will provide 120 Class A, upscale apartment units in a 4-story midrise building.  Apartment units will feature 9-foot ceilings, private balconies, walk-in closets, stainless steel appliances and granite countertops. Featured amenities will include a clubhouse with an outdoor pool, fitness and yoga center, dog wash station, banquet area, kitchen and coffee station. Residents will also have access to multiple pickleball courts and a basketball court, in addition to 236 miles of walking and biking trails along the Little Miami River to Lake Erie via a pedestrian bridge.

“River Creek Lofts is a well-positioned project in a high growth area of Cincinnati’s MSA and offers the potential for future phases that align with our long-term lending strategy,” said HSF Vice President and loan originator, Brian Mitchell. “Partnering with entrepreneurial developers such as VCARVE Constructions is our bread and butter—their team had a clear vision for the project, and we look forward to helping them bring this multifamily development to life.”

VCARVE Constructions is a real estate development company based in Dayton, Ohio primarily focused on retail projects throughout suburban Ohio. “River Creeks Lofts is ideally located just a few miles from major attractions, including Kings Island Amusement Park, two golf courses, and the W&S Open Tennis Center,” said Sam Echuri of VCARVE Constructions. “We are proud to provide more housing options while growing with this community.”

The deal was brokered by Amir Giryes of Giryes Capital Group. “This project required a deep understanding of the multifamily market and finding creative solutions to secure the loan,” said Giryes. “Working alongside HALL Structured Finance, we ensured that our client had the support and expertise needed to move forward with confidence.”

To read the full press release, see here.