June 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $22.896 million in financing for River Vista, a 196-unit, garden-style apartment community in the North Atlanta community of Sandy Springs, Georgia.
HFF worked on behalf of Stonebridge Investments to secure a seven-year, fixed-rate loan with five years of interest-only payments through Freddie Mac’s Green Advantage program. The loan will be serviced by HFF, a Freddie Mac Optigo℠ lender for Conventional Loans.
River Vista is located at 9200 Roberts Drive just a few miles north of the I-285/GA-400 interchange, which provides access to the Central Perimeter office market and downtown Atlanta. Originally constructed in 1996, the property features a mix of one-, two- and three-bedroom floor plans that were more than 96% occupied at closing. Community amenities include a swimming pool with sundeck, outdoor kitchen with grills, outdoor social area with TV, playground, clubhouse lounge with demonstration kitchen and 24-hour fitness center.
The HFF debt placement team representing the borrower included managing director Elliott Throne and director Ware Shipman.
“River Vista marks Stonebridge’s third acquisition within the Sandy Springs submarket allowing them to further capture the demand from the new headquarters of State Farm and Mercedes Benz,” Shipman said. “We were pleased to work with Freddie Mac in providing Stonebridge with a loan structure that will allow them to capitalize on the continued growth of Central Perimeter and the GA-400 corridor.”