ATLANTA--(BUSINESS WIRE)--Bay Point Advisors, LLC has finalized a $13.91 million real estate acquisition loan on multiple mixed-use and residential developments planned for Carthage, NC and Athens, GA. The partners associated with both projects have acquired close to two dozen projects on 1,500+ acres, including single-family and townhome developments as well as mixed-use properties across the Southeast.
In Carthage, NC, Little River Development Partners, LLC is purchasing 585+ acres to develop Little River Resort near Pinehurst, which Golf Digest previously named as one of the top three golfing destinations in the world. The mixed-use development will encompass hotels, 1,200+ residential homes, several restaurants, a winery and micro-brewery, national and local specialty stores, an outdoor amphitheater, and other elements.
In Athens, GA, Athens Pinecrest Village Development Partners, LLC will develop a planned 200-unit residential lease community on approximately 33 acres located on Pinecrest Lodge Road, the site of several existing residences. Construction should commence within six months. Athens is the sixth largest city in Georgia, and Athens-Clarke County is home to major Fortune 500 companies, a growing number of local entrepreneurial startups, and the University of Georgia. In 2017, Forbes listed Athens as the #1 Best Place to Retire.
Of the Athens project, Bay Point CEO Charles Andros, an alumnus of the University of Georgia, stated, “We are pleased to see continued growth in the Athens community. Student housing demand has accelerated the need for additional rental communities.”
About Bay Point Advisors
Established in 2012, Bay Point Advisors LLC is a privately held firm based in Atlanta, Georgia specializing in customized, secured lending solutions across real estate and other industries, including entertainment, aviation, and natural resources. Since its inception, Bay Point Advisors has originated over $500 million of privately negotiated loans. For more information, please visit www.bay-pointadvisors.com.
