York Funding’s Peter Aytug and Rhea Stathatos Finance 203-Unit Real Estate Project in LaGrange, Georgia
York Funding has already financed the completion of 6 single-family houses in LaGrange. One of the properties is pictured.
Aytug and Stathatos bring needed real estate funding to an area exploding with job growth and housing demand.
NEW YORK, NY, UNITED STATES, March 24, 2025 /EINPresswire.com/ -- New York-based commercial lender York Funding is closing its third in a series of bridge loans to finance a 203-unit rehabilitation project that is underway in the heart of LaGrange, GA. Managing members Peter Aytug and Rhea Stathatos are sharing their reasons for getting involved in the project and what they see as an exciting future for the region’s real estate market.
Since 2021, LaGrange has been experiencing dramatic business expansion and job creation as the result of several Fortune 500 companies and other major employers setting up shop or ramping up operations in the region. A subsequent rapid increase in housing demand has caught the attention of real estate lenders and developers alike. York Funding managing partner Peter Aytug cites the local establishment of Amazon, Walmart, and Kia car manufacturing facilities in particular as key driving forces in the LaGrange job market and consequent boost in real estate activity.
Hyundai Motor Group Metaplant America, Hyundai Motor Group's first dedicated mass-production electric vehicle plant, is hiring and expanding in nearby Ellabell. Kia is also establishing an electric vehicle plant in nearby Savannah, a move which the Atlanta Journal-Constitution claims will create upwards of 8,500 jobs. Remington Firearms, the largest gun manufacturer in the United States, also moved their headquarters to LaGrange in 2022. Meanwhile, commerce giants Amazon and Walmart are also opening distribution centers in the area. Aytug notes that these convergences of large business activity reliably result in an explosion of development and opportunity for the local real estate market.
A longstanding firm with a strong market focus in and around the Northeastern seaboard, York Funding has located fast-expanding markets in states such as Georgia, Florida, Tennessee, Kentucky, and the Carolinas, and engaged with the real estate landscape through their lending and acquisition activities. Aytug and Stathatos have already built a strong presence in many of these markets, and their hope is that their operation in LaGrange will foster even more development and rehabilitation there.
The 203-unit rehabilitation project aims to create quality housing for the local workforce while offering tenants the opportunity to buy their homes. The developers handling this project are prior borrowers of York Funding, and both Aytug and Stathatos have expressed confidence in their reliability and the caliber of their work. They greatly look forward to working with other developers in the area.
Diana H Risse
York Funding
+1 917-602-5759
diana@yorkfunding.com
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