(What's driving better apartment living in Atlanta? Find out.)

Terraces of Brookhaven is located at 3510 Buford Highway. The multifamily property was built in 1968 and includes 22 buildings including 21 two- and three-story apartment buildings and one, two-story clubhouse/leasing office. Terraces of Brookhaven is 91% physically occupied and property amenities include: a swimming pool, playground, and laundry facility.

Northeast Plaza Apartments was built in 1966 and is located at 3506 Buford Highway. The subject is comprised of 13, two-story multifamily buildings and is 90% physically occupied. Property amenities include a swimming pool, playground, and laundry.

“The borrowers are seasoned commercial real estate and multifamily investors,” says Guttroff, managing director at Hunt. “Both properties are well located in an area in need of additional housing supply. We believe Atlanta continues to be a strong performer in commercial real estate and the local housing market is vastly undersupplied.”

ATLANTA—The Marquis Brookhaven Portfolio, which includes two multifamily properties in Atlanta, has won the confidence of investors in a supply constrained market. Hunt Mortgage Group provided a first mortgage bridge loan in the amount of $23.5 million to refinance the apartment assets for the owner, Terraces at Brookhaven.

The new bridge loan will refinance the existing debt and preferred equity on Terraces at Brookhaven, a 244-unit garden-style multifamily complex. The financing will also be used to acquire and partially renovate Northeast Terrace Apartments, a 100-unit garden-style multifamily complex.

“Proceeds from the new loan will refinance existing debt, facilitate the acquisition of one property, retire preferred equity, and is also inclusive of a $350,000 capital improvements reserve,” RJ Guttroff, managing director at Hunt tells GlobeSt.com. “Planned capital improvements include: interior unit renovations, upgraded amenities, installation of water savers and new signage.”

The loan is structured as a 36-month floating rate loan with two one-year options to extend. The loan is interest-only for the entire term.

(What's driving better apartment living in Atlanta? Find out.)

Terraces of Brookhaven is located at 3510 Buford Highway. The multifamily property was built in 1968 and includes 22 buildings including 21 two- and three-story apartment buildings and one, two-story clubhouse/leasing office. Terraces of Brookhaven is 91% physically occupied and property amenities include: a swimming pool, playground, and laundry facility.

Northeast Plaza Apartments was built in 1966 and is located at 3506 Buford Highway. The subject is comprised of 13, two-story multifamily buildings and is 90% physically occupied. Property amenities include a swimming pool, playground, and laundry.

“The borrowers are seasoned commercial real estate and multifamily investors,” says Guttroff, managing director at Hunt. “Both properties are well located in an area in need of additional housing supply. We believe Atlanta continues to be a strong performer in commercial real estate and the local housing market is vastly undersupplied.”