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Capstone Secures $13M Equity Partner for BFR Community near Robins Air Force Base
Berkadia has sourced $13.2 million in equity for Capstone Communities to develop The Cottages at Warner Robins, a 251-unit, low-density multifamily development located in the central GA town of Warner Robins. The cottage-style community will provide flexible housing options for individuals and families, particularly those employed at nearby Robins Air Force Base, who are looking to rent.
Cody Kirkpatrick, Noam Franklin Chinmay Bhatt of Berkadia arranged the equity placement as part of a larger programmatic partnership between the capital provider — a publicly traded REIT — and Capstone Communities. This is the third project that the capital source and Capstone Communities has partnered on. The other two are The Cottages at Port St. Lucie (FL) and The Cottages at Myrtle Beach (SC).
The Cottages at Warner Robins will sit on 28 acres along South Houston Lake Road and is expected to be completed in July 2023.
- ◦Development
- ◦Financing
