DORAVILLE, GA. — A fund sponsored by CBRE Investment Management closed on an $85.3 million mortgage loan to finance Atlanta-based Carroll’s acquisition of the 592-unit Arium Winters Chapel apartment community in the Atlanta suburb of Doraville. The floating-rate loan has an initial term of three years with a two-year extension option. The loan features future funding to finance the sponsor’s business plan. Robert Kadoori of CBRE’s Debt & Structured Finance team in Atlanta arranged the loan on behalf of Carroll.
Formerly known as Jasmine at Winters Chapel, Arium Winters Chapel is a garden-style property located at 4335 Winters Chapel Road and offers one-, two- and three-bedroom floor plans. Units feature hardwood-style flooring, resurfaced cabinets, private balconies, tile backsplashes and washer/dryers in select units. Community amenities include a fitness center, two swimming pools, soccer field, picnic and grilling areas, two dog parks, playground, clubhouse, business center and controlled gated access.