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Multifamily Development

Athens, GA

Multifamily - Development

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Athens, GA

Multifamily Development

MULTIFAMILY - DEVELOPMENT

ACRES funded a $15.1 million loan which will be used to develop the first of two phases of a residential rental townhouse community in Athens, Georgia. The multifamily property will consist of the following:

  • 116 units totaling 115,278 net square feet
  • Unit mix of 23 one-bedroom units, 78 two-bedroom units, and 15 three-bedroom units
  • Clubhouse/leasing center, pool, fitness center, common area/kitchen, pickleball court, and community garden

Located near the University of Georgia, the property will benefit from the area’s growing market, high occupancy rate, and strong demographic trends.

The sponsor’s strong track record of developing single-family homes and townhomes further compound this property as an attractive project.

$15.1 Million

Loan Amount

24 Months

Loan Term

Construction

Loan Product

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