Lively Drayton Mills
Lively Drayton Mills is a 297-unit, Class A multifamily commercial real estate property in Spartanburg, South Carolina, a growing suburb located 30 miles east of Greenville. Substantially mitigating repayment risk for our position, this project is anticipated to receive tax credits from the South Carolina Textile Mill Tax Credit program. This project will be completed in partnership with Orange Capital Advisors (OCA).
Key Deal Points
OCA is a complete development company backed by its sister company, General Contractor CF Evans, who has a 72-year history and full array of accounting, financial, and construction expertise. CF Evans has constructed more than 13,000 multifamily units, with 7,700 units completed within the last five years. We’re also partnering with OCA on our Lively Farmhouse investment.
Each building of the project will be fully completed individually, which provides for a truncated development timeline and allows for initial move-in to occur by the sixteenth month, further reducing interest and operational carry costs.