CBRE Capital Markets’ Debt & Structured Finance team has secured $68 million in construction financing and preferred equity investment for the development of The Sinclair at Callaway Farm, a 388-unit, luxury multifamily community in the Atlanta suburb of Covington. CBRE originated the financing on behalf of the Brook Farm Group, who is co-developing the Property with Emory Equity. Construction financing was provided by First Horizon Bank with Trustmark Bank as a participant in the loan, while SilverCap Partners made a preferred equity investment in the project. The Project is scheduled to begin construction in the next few months.

CBRE’s New York based Debt & Structured Finance team of Shawn Rosenthal, Jason Gaccione and Jake Salkovitz facilitated the financing on behalf of the borrower.

“We are thrilled to assist Brook Farm Group in securing construction financing for a truly pioneering development despite a challenging capital markets environment,” said Mr. Rosenthal.  “The strength of the development team, the asset’s luxury appeal, and the compelling job growth in this submarket were instrumental in delivering an attractive construction financing package. We are excited to see the results of BFG’s vision.”

Located in the historic town of Covington, known colloquially as “the Hollywood of the South,” The Sinclair at Callaway Farm will boast two distinct “Town” and “Country” neighborhoods, 11 residential buildings, a 9,000-sq.-ft. clubhouse, a resort style pool, expansive two-story fitness center and co-working space, all within a 37-acre site adjacent to the 180-acre Covington Town Center mixed-use development. The luxury multifamily community will be situated in the dynamic growth corridor along I-20 between Covington and Social Circle, where more than 10,000 new jobs are planned by 2026.