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:
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.
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.