Venterra Lands $38M Refi for Atlanta-Area Community
- Jul 07, 2020
Venterra Realty has obtained a $38.4 million Freddie Mac loan for the refinancing of Balmoral Village, a 312-unit community in Peachtree City, Ga. Working on behalf of the borrower, NorthMarq structured the seven-year financing with five years of interest-only and a 30-year amortization schedule. According to Yardi Matrix data, Venterra purchased the Class B asset in 2015 for $42.3 million from Waterton, financing the acquisition with a $27.6 million loan from Jackson National Life.
Situated on more than 28 acres at 450 S. Peachtree Parkway, Balmoral Village comprises 24 two-story buildings completed in 1989. The unit mix has one- to three-bedroom floorplans ranging from 662 to 1,450 square feet. Amenities include two resort-style pools, two tennis courts and golf cart charging stations.
The property is some 33 miles south of downtown Atlanta and 4 miles southeast of the city center. Braelinn Village Shopping Center, Braelinn Golf Club and Braelinn Recreation Center are all within a mile of the community.
NorthMarq’s Atlanta office arranged the Balmoral Village refinancing through its debt and equity team. In April, a similar team of the firm’s Charlotte division structured a $28.5 million Freddie Mac loan for a 252-unit community in Greer, S.C.