CBRE has arranged acquisition financing of The Blakely, a four-phase, 420-unit multifamily complex in Pendergrass, Georgia. ARC Multifamily Group is acquiring the partially developed community in phases for $88.4 million from developer Green River Builders.

CBRE Capital Markets’ Debt & Structured Finance worked on behalf of the borrower, ARC, to secure a $62.4 million bridge loan facility through a life insurance company. CBRE’s Charlie Clark and Blake Cohen represented the borrower.

Located at 542 Glen Gee Road, The Blakely is a garden-style apartment community in Pendergrass, Georgia, about an hour northeast of Atlanta. The property is being delivered in four phases with the buyer under contract to acquire each phase once it receives a certificate of occupancy.

Upon completion, the development will include a mix of one-, two-, and three-bedroom units ranging in size from 855 sq. ft. to 1,444 sq. ft. Community amenities will include multiple swimming pools, a theater room, package center, fitness center, game room, yoga pad, fire pit, playground and a beer garden featuring an outdoor kitchen with a bar top, outdoor TV, and seating.