CBRE’s Capital Markets Debt & Structured Finance team has arranged $64.5 million in financing for the acquisition of The Retreat at Riverside, a 412-unit apartment community in Lawrenceville, GA.
The asset is an apartment community located at 1000 Duluth Highway in a popular suburb with convenient access to both Atlanta and Athens. Residents have access to historic venues such as the Aurora Theatre and scenic lake views at Rhodes Jordan Park, in addition to nearby shopping, dining, and entertainment. Amenities include four resort-style pools, a brand-new fitness center and controlled gate access.
Michael Thompson and Tony Tringhese of CBRE secured the financing on behalf of the borrower, Ashcroft Capital. The seller of the property was also represented by Shea Campbell, Kevin Geiger, Ashish Cholia and Colleen Hendrix with CBRE Southeast Multifamily in Atlanta. The three-year, 75.5% loan-to-cost, floating-rate loan was provided through Rialto Capital.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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