CBRE has arranged a $58 million senior loan and $9 million preferred equity investment to refinance The Blakely, a 420-unit multifamily community in Pendergrass, Georgia, 30 minutes northeast of Atlanta.

Blake Cohen and Charlie Clark with CBRE Capital Markets’ Debt & Structured Finance in Atlanta represented the borrower, ARC Multifamily Group, in the deals. Fannie Mae provided the five-year fixed rate and senior loan, and Pensam Capital is the preferred equity investor.

Located at 542 Glenn Gee Road, the community was built on a 40-acre site in four phases beginning in 2022 and completing in July 2023. It comprises 10 residential buildings with one, two, and three-bedroom floorplans averaging 1,059 square feet. Community amenities include a clubhouse, two resort-style pools, a gaming room, a fitness center, a barn park and spa, and EV charging. 

Situated between I-85 and I-985 in Jackson County, the property benefits from the Atlanta Metro’s recent expansion.