Parkland Communities Lands $57M for BTR Project
Comprising 300-plus units, the project is already well under way.
Parkland Communities has obtained a $57 million aggregation facility to finance all homes upon completion at its 317-unit Grove Landing project, a build-to-rent community in Warner Robins, Ga. Greystone arranged the note that includes a 36-month term.
Previous financing for this project includes a $20.1 million construction loan originated by Forman Capital in August 2023, according to Yardi Matrix information. That note expires in 2025.
The development is the only single-family build-to-rent community in Houston County. Already 22 percent complete, the project is expected to come online by the end of next year. The first phase will encompass 109 townhomes.
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The unit mix will consist of two-, three- and four-bedroom floorplans ranging between 985 and 1,475 square feet. Each layout will also feature a private balcony or patio. Common-area amenities at the cottage-style project will include a swimming pool, fitness center and a playground. The community will also have a clubhouse, pocket parks and a playfield.
The property is taking shape at 1280 Dunbar Road, within 4 miles of a host of dining and retail options. Downtown Macon, Ga., is within 16 miles, while the Middle Georgia Regional Airport is 6 miles away.
Greystone Managing Directors Avi Kozlowski and Thomas Wayda, along with Associate Dante DiStefano, sourced the transaction and handled the debt placement.
