An affiliate of Coral Gables, Florida-based Beacon Real Estate Group acquired the 300-unit Prose Concord apartment community in Jefferson with a $45 million loan. The exact purchase price was not disclosed. 

According to Jackson County records, the 75-acre property at 575 Concord Road last changed hands in 2021, when White Repair & Contracting Co. sold the land to Concord Apartments Venture LLC for $2.5 million. The new apartment community was built last year. 

Community amenities include a resort-style pool, clubroom with catering kitchen and entertainment lounge, business center with coworking spaces and a fitness center. The units offer one- and two-bedroom floor plans and cover 836 to 1,188 square feet. 

Berkadia Managing Director Scott Wadler, Senior Director Matt Nihan and Senior Managing Director Mitch Sinberg arranged the acquisition financing, a 10-year Freddie Mac term loan with five years of interest-only and a fixed interest rate. 

“Prose Concord is a well-constructed, new-vintage asset in a high-growth submarket,” Wadler said in a press release. “We were primed to lock in attractive leverage and fixed-rate pricing for Beacon, relative to where interest rates had been at the beginning of 2023.” 

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