CBRE, a leading commercial real estate firm, has successfully arranged financing for The Blakely, a 420-unit multifamily community located in Pendergrass, Georgia. The $58 million senior loan and $9 million preferred equity investment were secured by CBRE Capital Markets’ Debt & Structured Finance team in Atlanta. ARC Multifamily Group was represented by Blake Cohen and Charlie Clark of CBRE.
The five-year fixed rate senior loan was provided by Fannie Mae while Pensam Capital served as the preferred equity investor. Construction on the community began in 2022 and is expected to be completed by July 2023. It consists of ten residential buildings offering one, two, and three-bedroom floorplans with an average size of 1,059 square feet.
Residents at The Blakely will have access to various amenities including a clubhouse, two resort-style pools,a gaming room,a fitness center,barn park,and spa,and EV charging stations.The property’s location between I-85andI-985in Jackson County makes it easily accessible from all parts of Atlanta Metro area which has recently undergone significant expansion.
This successful financing deal showcases CBRE’s expertise in securing favorable terms for their clients’ real estate investments.
