Parkland Residential announces it has successfully closed a $57 Million aggregation loan with Encore Finance to provide financing for completed homes at the build-to-rent community Grove Landing, located in the rapidly growing Houston county submarket near Robins Air Force Base.
“It is a big accomplishment to obtain a $57 million loan in this lending environment,” stated Parkland Residential President Jim Jacobi. “It’s a testament to the strength of our home building company, rental success, and proven product.” We are thrilled to partner with Encore Finance on this project.”
The financing was originated by Avi Kozlowski, Managing Director at Greystone, along with Greystone’s Thomas Wayda, Managing Director, and Dante Distefano, Analyst, handling the debt placement. Meanwhile, Synovus Bank is providing all construction financing for newly built homes.
Grove Landing is the only single-family build-to-rent community in Houston County. It is planned for 317-homes, offering all-inclusive living for the residents. Leasing is strong in the community, where 75 homes have already been leased this year.
The community’s all-inclusive living experience allows residents the freedom to focus on what truly matters to them. Grove Landing provides all yard maintenance, pest control, home repairs and appliances.
The homes range from two, three, or four bedrooms featuring craftsman-style exteriors, large porches, carports, or one-car garages. Inside, residents are treated to luxurious finishes, including granite countertops, Mohawk Revwood Luxury flooring, two-inch blinds, and a full suite of stainless steel appliances. In-unit, full size washers and dryers are also included. Residents have the option to add a five-foot wooden privacy fence to their home after move-in. Additionally, all homes come with smart locks and security systems, with the option to add more smart home features.
Potential residents are encouraged to tour the community with on-site leasing agent Ron Telfair. Grove Landing is conveniently located near Robins Air Force Base.
Warner Robins is a vibrant city that embodies the essence of southern hospitality. It is situated just 90 minutes south of Atlanta. The city is home to Robins Air Force Base, the largest employer in the area, and has a thriving industrial sector featuring prominent companies. The upcoming opening of Pratt Industries’ new $120 million facility further demonstrates the city’s economic strength and growth prospects.
