CBRE Arranges $65M Acquisition Loan for Lawrenceville MF Property
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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!