Grandbridge Originates $105M Refinancing for Multifamily Portfolio in Florida, Georgia
ATLANTA — Grandbridge Real Estate Capital has provided $105 million in loans to refinance four multifamily properties in Florida and Georgia. Alan Tapie of Grandbridge’s Atlanta office negotiated all four loans for undisclosed borrower(s). The properties involved are Timberwalk at Mandarin Apartments in Jacksonville, The Retreat at Crosstown Apartments in Riverview, Belara Apartments in Atlanta and Trellis Apartments in Marietta. All four loans were structured with 10-year terms and 30-year amortization schedules through Freddie Mac.
The loan for Timberwalk at Mandarin Apartments has an initial interest-only period. The complex is located at 10263 Whispering Forest Drive and houses 284 units with one-, two- and three-bedroom layouts. The Timberwalk features a saltwater pool, outdoor sports areas, fire pit, cabanas, resident clubhouse, technology center, playground, fishing pier, fitness center and outdoor cooking stations.
The Retreat at Crosstown Apartments is a 320-unit property located at 10301 Marsh Harbor Way. Tapie secured a $33.2 million permanent, fixed-rate loan for the complex. The Retreat at Crosstown offers one- and two-bedroom layouts, as well as a pool, outdoor area with fire pit, fitness center, grilling area, car care facility, game room, business center and package acceptance.
Belara Apartments, located at 1570 Sheridan Road N.E., is a 182-unit multifamily community in Atlanta. Tapie secured the $24.8 million refinance for a repeat client. The community offers one-, two- and three-bedroom layouts and features package acceptance, pet-friendly facilities, a fitness center, pool, outdoor grilling and a bocce ball court.
Lastly, Tapie negotiated a $22.1 million permanent, fixed-rate loan for Trellis Apartments, a 210-unit multifamily property in Marietta. Located at 1275 Cunningham Road S.W., Trellis Apartments offers two- and three-bedroom layouts and offers a pool, barbecue/picnic area, fitness center, laundry facilities, playground and a sundeck.