NAVARRE, FLA. — CBRE has arranged a $47 million loan, provided by Voya Investment Management, for Branch Properties to refinance construction debt on Elevate Navarre, a new 332-unit community in Navarre, which is a Florida Panhandle city about 22 miles east of Pensacola. Atlanta-based Branch Properties opened the property in 2023.
Blake Cohen with CBRE Capital Markets’ Debt & Structured Finance in Atlanta arranged the three-year, fixed-rate, interest-only loan.
Elevate Navarre consists of 11 three-story buildings and a clubhouse/leasing center situated on 20 acres. It features one-, two- and three-bedroom units with five floor plans. Unit amenities include quartz countertops, hardwood-style flooring, custom cabinetry, stainless steel appliances, washers and dryers and private patios or balconies.
The community offers a resort-style pool, billiards, an outdoor kitchen and dining area, a fitness center with Peloton bikes and a pet spa.