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ARC Multifamily Group is acquiring The Blakely apartments Pendergrass, GA in phases for $88.4 million from developer Green River Builders.

ARC Multifamily Group Marches Forward on $88M Buy of Community in Pendergrass

Newport, CA-based ARC Multifamily Group is acquiring The Blakely, a four-phase, 420-unit multifamily complex in Pendergrass, GA in phases for $88.4 million from developer Green River Builders.

Charlie Clark and Blake Cohen of commercial real estate services and investment firm CBRE worked on behalf of ARC Multifamily Group to secure a $62.4 million bridge loan facility through a life insurance company.

Located at 542 Glen Gee Road, The Blakely is a garden-style apartment community about an hour northeast of Atlanta. The property is being delivered in four phases with the buyer under contract to acquire each phase once it receives a certificate of occupancy.

Upon completion, the development will include a mix of one-, two- and three-bedroom units. Community amenities will include multiple swimming pools, a theater room, package center, fitness center, game room, yoga pad, fire pit, playground and a beer garden featuring an outdoor kitchen with a bar top, outdoor TV and seating.


Inside The Story

CBRE's Clark

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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