Hilton Head Island, S.C.– Together, Colliers’ Atlanta based Debt & Equity team and Colliers Mortgage, a delegated underwriting and servicing licensee for Fannie Mae, secured a refinancing loan for the Hilton Head Island, SC luxury residential community known as WaterWalk at Shelter Cove Towne Centre.
Southeastern Real Estate Group, of Augusta, GA, the borrower, initially considered selling the property. The Colliers’ Debt and Equity team, represented by Senior Vice Presidents Doug Alexander and Hagan Dick, with Vice President Zach Shope of Colliers Mortgage, presented the borrower with very competitive and appealing Fannie Mae loan terms. As a result, in July 2021, Southeastern Real Estate Group granted Colliers Atlanta Debt & Equity Team the exclusive authorization to pursue the Fannie Mae loan through Colliers Mortgage.
“Capital is plentiful in today’s market and often results in record sales prices. As lucrative as this may sound, these proceeds can be challenging to reinvest,” said Dick. “While working in this low interest rate environment, our team has found that partnering with Colliers Mortgage on behalf of Fannie Mae often produces results more attractive than an outright sale.” Alexander added, “The fact that Colliers now holds a Fannie Mae license was significant to this transaction and will undoubtedly benefit Colliers’ clients going forward.”
WaterWalk at Shelter Cove is a luxury, residential community located in the center of Hilton Head Island overlooking Broad Creek and the Harbor River. Sweeping-waterfront views, maintenance-free living and resort-style amenities encapsulate the lifestyle of WaterWalk at Shelter Cove. There are 240 large residential units scattered throughout the community averaging 1,548 square-feet in one, two and three bedroom layouts. Walkability is a key feature of WaterWalk at Shelter Cove as the community is within walking distance of abundant shopping, dining and entertainment including a Whole Foods Market and Kroger. Shelter Cove Community Park is a five-acre park that sits adjacent to WaterWalk and is used year-round for festivals, concerts and community events.