DORAVILLE, GA. – A CBRE Investment Management-sponsored fund closed an $85.3 million mortgage to finance Atlanta-based Carroll’s acquisition of the 592-unit Arium Winters Chapel apartment community in suburban Atlanta in Doraville. The variable rate loan has an initial term of three years with an option to extend for two years. The loan provides future financing to fund the promoter’s business plan. Robert Kadoori of CBRE’s Debt and Structured Finance team in Atlanta arranged the loan on Carroll’s behalf.
Formerly known as Jasmine at Winters Chapel, Arium Winters Chapel is a garden-style property located at 4335 Winters Chapel Road and offers one-, two-, and three-bedroom floor plans. Units feature hardwood-style floors, remodeled cabinetry, private balconies, tile backsplashes, and washer/dryers in some units. Community amenities include a fitness center, two swimming pools, soccer field, picnic and grilling areas, two dog parks, playground, clubhouse, business center, and access control.