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The Hallmark Companies has secured a $21.4-million loan through CBRE for and completed the acquisition of The Bauer multifamily complex in Acworth, GA.

CBRE Reps Buyer, Secures $21M Acquisition Loan for Acworth Apartment Complex

Atlanta, GA-based real estate firm The Hallmark Companies has secured a $21.4-million loan through CBRE for and completed the acquisition of The Bauer, a 192-unit multifamily complex located in the Atlanta suburb of Acworth, GA.

Salt Lake City, UT-based Sundance Bay sold the property for an undisclosed price.

Blake Cohen and Blake Ilgenfritz of CBRE represented The Hallmark Companies and secured the acquisition loan, which was sourced through Fannie Mae. The Bauer participates in the low-income housing tax credit program and is subject to affordability restrictions with approximately five years of compliance left.

“The LIHTC space is less fazed by the current disruption due to more favorable loan sizing and pricing treatment via the agencies’ dedicated affordable channels,” said Cohen.

The 1997-constructed property includes a mix of one-, two-, and three-bedroom units plus clubhouse, coffee bar, fitness center, playground, swimming pool and laundry facility.


Inside The Story

CBRE's Cohen

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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