The proceeds of a loan funded by ACRES were used to acquire a 1.5-acre development site in Buckhead, an uptown commercial and residential district of Atlanta, GA.
The proposed development will be comprised of 483 luxury apartments, with an amenity package that will support the work-live-play culture of Buckhead by including:
State-of-the-art co-working space
Podium-level terrace and pool
The project is expected to benefit from the area’s solid growing market and strong demographic trends.
The sponsors are a leading international real estate investment management company whose depth of knowledge and experience, in addition to the area’s strong expansion and solid market characteristics, make this loan an attractive opportunity for ACRES.
Exantas Capital Corp.is externally managed by ACRES Capital, LLC. The Company’s primary investment strategies include transitional commercial real estate loans and longer duration commercial real estate credit investments, such as commercial mortgage-backed securities. To see more on EXANTAS, click below.