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Bank's new relationship with condo developer.

Corus Bank, closed a $29,800,000 loan to Abernathy Investment Associates, LP, an affiliate of Lane Company, to finance the construction of the Serrano Condominiums, a 5-story condominium project located in Sandy Springs at the intersection of the Georgia 400 and Abemathy Road in Atlanta, Georgia.

The project will consist of 150 residential condominium units and approximately 6,475 s/f of retail space. Amenities will include a clubroom, fitness center, movie screening room, office and conference room area. Corm worked closely with Lane Company to close the nonrecourse loan with no pre-sale requirement. This project is the Bank's first with Lane Company.

"We are very excited to be starting a relationship with Lane Company, which is one of the premiere condominium developers in the Atlanta market," said Brian Brodeur, Corus Bank senior vice president.
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Publication:Real Estate Weekly
Date:Sep 12, 2007
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