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Cushman & Wakefield Arranges $46.9M in Construction Financing for Vista Realty Partners

9/8/2020
Cushman & Wakefield has secured $46.9 million in construction financing for Vista Realty Partners for the development of Sweetwater Vista, a 300-unit apartment community located in Douglasville, Georgia.

Sweetwater Vista

Michael Ryan, Brian Linnihan, Richard Henry and Blake Cohen secured the preferred equity investment through Nationwide Insurance Co. and senior financing through Synovus Bank.

“Despite the explosive industrial development, multifamily construction in Douglas County has been relatively muted, resulting in a submarket predominantly comprised of older-vintage assets that have benefited from substantial rent growth given the lack of new supply,” Ryan said. “Additionally, the County’s zoning requirements allow for a maximum of only six units per acre for multifamily projects, making it difficult to develop new multifamily in Douglas County. Sweetwater Vista will benefit from limited competitive supply within a high-barrier to-entry market.”

Located on Riverside Parkway, the property will include nine three- and four-story residential buildings with an average unit size of 1,000 square feet. Construction began in August.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

Media Contact

Savannah Durban Atlanta Communications
Savannah Durban

Senior Communications Specialist, South Region • Atlanta

Ms. Durban leads public relations for Cushman & Wakefield's South region. She oversees media relations, thought leadership initiatives, and manages blogs and social media.