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Atlanta & Southeast  + Atlanta  + Apartments  |  November 2, 2021
Vesta Derby Oaks apartments in Louisville, KY
Lisa McDuffie
By: Lisa McDuffie

Workforce Communities in Atlanta, Louisville Boosted with $75M Refi Arranged by CushWake

Middleburg Communities has turned to Cushman & Wakefield to complete a $75-million refinance loan for a workforce housing portfolio made up of three apartment communities totaling 1,154 units. 

Blake Cohen, Mike Ryan and JP Cordeiro of Cushman & Wakefield’s equity, debt and structured finance team secured the two-year loan through Synovus.

The properties in the portfolio include:

• Vesta Adams Park, a 298-unit apartment community located on Delowe Drive in Atlanta. The property is 96% leased and has an average unit size of 1,035 square feet.

• Vesta Bouldercrest, a 438-unit apartment community located on Bouldercrest Lane in Atlanta. The property is 95% leased and has an average unit size of 808 square feet.

• Vesta Derby Oaks, a 418-unit apartment community located on Utah Avenue in Louisville, KY. The property is 88% leased and includes an average unit size of 724 square feet.

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Inside The Story

Cushman & Wakefield

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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