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**Lument Facilitates $53.1M Refinance for Luxury Apartments in Columbus**
Lument has announced the closing of a $53.1 million balance sheet loan to support the refinance and lease-up of South Bank at Quarry Trails, a 266-unit luxury multifamily community located in Columbus, Ohio. Built in 2025, the Class A mid-rise community is part of a broader master-planned development offering one-, two-, and three-bedroom units.
The transaction was led by Ryan Duling, Senior Managing Director at Lument, who is based in Columbus. The project’s sponsor, Thrive Companies, is also headquartered in Columbus and is known for its extensive portfolio of large-scale, mixed-use projects. To date, Thrive has developed more than 38 communities and over 4,000 residential units.
The balance sheet loan refinances the existing construction debt, establishes reserve accounts, and provides financial flexibility for the continued lease-up and seasoning of the newly completed property. The loan features an adjustable interest rate and a two-year term, with interest-only payments for the duration.
“We are thrilled to collaborate with one of Ohio’s premier developers on the refinance and lease-up financing of this top-tier property,” said Duling.
South Bank at Quarry Trails adds to Columbus’s growing inventory of upscale living spaces, continuing the city’s streak of high-end urban development.
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