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Atlanta & Southeast  + Atlanta Metro  + Finance  | 
Enclave at Roswell apartments in Roswell, GA

CBRE Fund Closes $37M Loan for 236-Unit Atlanta Multifamily

A fund sponsored by CBRE Investment Management has closed on a $37.2 million mortgage loan to facilitate TerraCap Management’s acquisition of Enclave at Roswell, a 236-unit multifamily in Atlanta’s North Fulton submarket.

The floating rate loan has an initial term of four years, which can extend up to one additional year, and features future funding for TerraCap’s planned renovations. Matt Williams and Kyle Schlitt of Newmark arranged the loan on behalf of TerraCap.

“This loan provided our firm with an opportunity to lend on a well-located property at an attractive basis, in addition to working with an established sponsor in TerraCap, which has previous operating history in this particular submarket,” said Charles Kim, managing director for CBRE Investment Management. “We believe that with the new owner’s targeted capital improvements, coupled with the strong submarket fundamentals, there is an opportunity for material rent growth while maintaining high occupancy levels at the property.”

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CBRE Investment Management’s Kim

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 he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
  • ◦Financing