Drever Partners Secures $15.7 Million to Refinance The Penleigh-Branson Row Micro Apartments in Branson, Missouri

by Channing Hamilton

BRANSON, MO. — Drever Partners has received a $15.7 million loan to refinance The Penleigh-Branson Row, a 325-unit micro apartment complex in Branson. Franklin Templeton provided the CMBS loan, which includes a 10-year term and a 60 percent loan-to-value ratio. The property was converted from a hotel and was leased up in nine months. CoreVest Finance, a division of Redwood Trust Inc., provided the original financing and construction loan for the conversion. Drever Partners is now raising capital for The Penleigh-Live Oak, which will sit adjacent to The Penleigh-Branson Row. The project will convert the former 143-room Hall of Fame Motel into 138 micro apartments.

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