Berkadia announces it has secured a loan for the acquisition of Exchange at 1105, a new Class A 280-unit garden-style multifamily property in LaGrange, Ga., in Troup County. Alliance Bernstein provided the financing.
Managing Director Scott Wadler and Senior Director Matt Nihan of Berkadia Miami arranged financing on behalf of Beacon Real Estate Group, a commercial real estate acquisition and management firm based in Coral Gables, Fla.
“The LaGrange market has seen tremendous large-scale corporate investment and expansion, with accelerated employment opportunities and growth,” said Wadler. “This is a supply-starved market. Troup County has experienced historic undersupply of housing for the last decade where only three institutional-quality multifamily projects have been built in that time.”
Located at 1105 and 1195 S. Davis Road, Exchange at 1105 offers spacious one-, two-, and three-bedroom floor plans, smart lock entry, stainless steel appliances, granite kitchen countertops, soaking bathtubs, walk-in closets and more. Amenities include a clubhouse, state-of-the-art fitness facility, resident lounge with pool table, Wi-Fi enabled clubhouse with business center, dog park with pet spa and designer pool with sun deck.
The property is conveniently located near interstate I-85 and I-185 for an easy commute to major cities such as Atlanta, Newnan, Columbus, and Auburn, Alabama. Troup County is home to a wide range of national and international businesses including Duracell, Kia Motors, ExxonMobil, Kimberly-Clark, Walmart and Dow Jones. Recent corporate additions to Troup County include Hyundai, Amazon, and a recent announcement that Remington is moving into the market.