Brook Farm Group Secures $73 Million Refinance From Prime Finance For 388-Unit Multifamily Community
10500 Callaway Dr
$73,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 3, 2026
AI
The Sinclair at Callaway Farm is a 388-unit Class A multifamily community located at 10500 Callaway Drive, Covington, Georgia, encompassing 38 acres. The asset is part of a refinancing transaction amounting to $73 million, aimed at replacing the original construction loan and preferred equity financing.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $73,000,000
- Units: 388
- Acres: 38
- Lender: John Atwater & Paul Oliveri - Prime Finance
- Landlord: Eric Hade & Peter DiCorpo - Brook Farm Group
- Arranged by: Shawn Rosenthal, Jason Gaccione & Jake Salkovitz - CBRE
- Loan Type: Refinance
This refinancing secured by Brook Farm Group reflects strong leasing performance and lender confidence as the developer increases its Southeast multifamily pipeline. The transaction was finalized following the property’s completion in Q2 2025.
Players
Callaway MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93