Atlanta

CBRE Investment Management Fund Closes $37.2 Million Loan for 236-Unit Multifamily Community Outside of Atlanta

04 Nov 2021

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A fund sponsored by CBRE Investment Management, formerly known as CBRE Global Investors, has closed on a $37.2 million mortgage loan to facilitate TerraCap Management’s acquisition of Enclave at Roswell. The 236-unit multifamily community is located outside of Atlanta in the North Fulton submarket. The floating rate loan has an initial term of four years, which can extend up to one additional year, and features future funding for TerraCap’s planned renovations. 

Located at 11251 Alpharetta Highway in the city of Roswell, Ga., the garden-style community offers a mix of one- and two-bedroom apartments that feature in-unit washers and dryers, walk-in closets and private balconies in select homes. Community amenities include a swimming pool, a fitness center, a business center, a tennis court, a children’s playground area and a dog park. 

“This loan provided our firm with an opportunity to lend on a well-located property at an attractive basis, in addition to working with an established sponsor in TerraCap, which has previous operating history in this particular submarket,” said Charles Kim, Managing Director for CBRE Investment Management. “We believe that with the new owner’s targeted capital improvements, coupled with the strong submarket fundamentals, there is an opportunity for material rent growth while maintaining high occupancy levels at the property. We look forward to financing additional transactions with both Newmark and TerraCap.”

Matt Williams and Kyle Schlitt of Newmark arranged the loan on behalf of TerraCap.

Enclave at Roswell is located along Highways 9 and 400, providing convenient access to major employment hubs in the area. Downtown Atlanta is within a 35-minute drive of the property. The community is also situated less than two miles from some of the area’s major shopping destinations, including North Point Mall, North Point Marketcenter and Mansell Crossing. 


About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $133.1 billion in assets under management* as of September 30, 2021, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2020 revenue). CBRE has more than 100,000 employees serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the assets under management, fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.