ARC Closes on Loans for Two Atlanta-Area Apartment Acquisitions
ARC Multifamily obtained two acquisition loans totaling $72.8 million on behalf for the purchases of Novo Stockbridge (photo) in Stockbridge, Georgia, and Novo Sweetwater in Lithia Springs, Georgia.
The financing was arranged by Blake Cohen and Charlie Clark with CBRE’s Debt & Structured Finance team in Atlanta.
The portfolio comprises 594 Class A garden-style units built in 2023 and 2024 by developer Shelton McNally. The financing was structured as two separate Fannie Mae acquisition loans; $34.79 million for Novo Stockbridge, and $38.05 million for Novo Sweetwater.
Novo Stockbridge benefits from proximity to major employment centers, including Hartsfield‑Jackson Atlanta International Airport and the rapidly expanding medical district, anchored by Piedmont Henry Hospital’s $212 million expansion.
Novo Sweetwater benefits from its adjacency to major mixed-use development activity, including the $350 million Trails development.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout