NorthMarq’s Atlanta office advises on a $60 million redevelopment of Woodside Mill in Greenville, South Carolina

ATLANTA, GEORGIA (September 23, 2019) – Will James served as a Financial Advisor to the sponsor of the adaptive reuse redevelopment of a 115-year old cotton mill. The property is located on Woodside Avenue in Greenville, South Carolina. 

Financing Details:
- 3-year term (3-years of interest-only payments)
- Construction loan
- The advisory role included construction financing and Historic Tax Credit (HTC) structuring of five capital providers that involved "bridging" the HTC funding.

Producer Quote:
“After five previous attempts by various other developers over the past seven years, the project budget was approximately $60 million, and once complete the value should easily be equal if not higher than the Brandon Mill conversion that sold last year for $240,000 per unit.”  

- Will James

Property Details:
- The property contains 307 units, rooftop amenity, common area pond and pool. 
- Once the apartments are complete, the phase 2 commercial component will create a unique entertainment hub as the area continues to revitalize.