$29.5M Secured for Multifamily Housing Project in Gainesville

BWE, a national commercial and multifamily mortgage banking company, has secured a $29,500,000 loan to finance the construction of Imperium Oakwood, a 229-unit Class A multifamily development.

Located adjacent to the University of North Georgia’s Gainesville campus, Imperium Oakwood will feature a clubhouse with fitness and office rooms, resort-style pool, fireplace, grill stations, covered lounge, game area, on-site parking and a dog park with a wash station. Units will include stainless steel appliances, hard-surface kitchen and bathroom countertops, LED lighting, decorator-grade plumbing fixtures and luxury vinyl plank flooring.

BWE Senior Vice President Thomas Wiedeman led the efforts to originate the floating-rate construction loan from a community bank on behalf of the borrower, Imperium Development, according to a news release. He was supported by his Atlanta-based team, including Executive Vice President Alan Tapie, Production Analyst Hanley Long and Senior Vice President Brad Walker.

The Oakwood Imperium development is a joint-venture partnership between Imperium Development and BCDC. Ground has been broken on the project, which is anticipated to be complete by November 2025.

Gainesville was the fastest-growing real estate market in the U.S. country last year.