Ventron Realty Locks in $60M Refi for Pair of Atlanta Apartments
CBRE has secured a total of $60 million in refinancing for Embarcadero Club and Walden Brook, two garden-style multifamily properties totaling 660 units near Atlanta, GA.
Paul Ahmed and Mackenzie Lampman with CBRE worked on behalf of the borrower, Ventron Realty, to arrange a 10-year, fixed-rate loan from a debt fund lender.
Built in 1974, Embarcadero Club is a 404-unit property in College Park, GA. Built in 2003, Walden Brook is a 256-unit property in Lithonia, GA.
“Both properties have experienced significant rent growth and consistently high occupancy levels due to the demand for apartments,” said Ahmed. “We were able to leverage the organic rent growth and strong operating history to demonstrate the significant value enhancements created by both the borrower and the market, which resulted in the arrangement of two cash-out loans with favorable rates held by the lender during a rising interest rate environment.”
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.