### Green River Builders and ARC Multifamily Secure $42.7M Loan for Monroe Apartment Development
Green River Builders and ARC Multifamily Group have secured a $42.7 million construction loan to move forward with The Jax, a 282-unit garden-style apartment complex in Monroe, Georgia. Green River Builders is based in Monroe, approximately 20 minutes east of Atlanta.
Blake Cohen and Charlie Clark of CBRE Capital Markets’ Debt & Structured Finance in Atlanta represented the borrowers in securing the loan. Peachtree Group provided the two-and-a-half-year, full-term, interest-only loan, covering approximately 74% of the project’s loan-to-cost ratio. The financing arrangement also includes an earnout component tied to project completion and leasing milestones.
The development, located at 200 Aycock Avenue, will feature seven three-story residential buildings offering one-, two-, and three-bedroom floorplans, averaging 1,117 square feet. Planned community amenities include a business center, clubhouse, swimming pool, fitness center, volleyball court, picnic area, electric vehicle charging stations, and a breakfast/coffee concierge.
ARC Multifamily Group specializes in investing in multifamily properties across the Southeastern United States.
