ARC Multifamily Group Refinances 420-Unit Community In Pendergrass GA For $67 Million

The property asset involved is a multifamily community located at 542 Glenn Gee Road in Pendergrass, GA, comprising 420 units. The transaction was a refinance, with a total loan amount of $67,000,000 secured through a combination of Fannie Mae and Pensam Capital financing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $67,000,000
• Loan Type: Refinance
• Loan Terms: five-year, fixed-rate
• Lender: Fannie Mae & Pensam Capital
• Landlord: ARC Multifamily Group
• Broker Representatives: Blake Cohen & Charlie Clark - CBRE
• Units: 420

The refinancing of The Blakely reflects the strong performance of the property, enabling ARC Multifamily Group to secure a $58 million loan from Fannie Mae alongside $9 million in preferred equity from Pensam Capital. This agreement aims to provide a return of equity to the partnership within the established loan terms.