JLL Capital Markets arranged a $52-million refinancing for Atria Newport Beach, a 168-unit senior living community located in Newport Beach. Senior managing director Aaron Rosenzweig and director Dan Baker represented the borrower, a partnership between a national REIT and Atria Senior Living.

MidCap Financial, a commercial finance company focused on middle market transactions, provided the floating-rate first mortgage loan.

Atria Newport Beach is located at 393 Hospital Rd. near Newport Boulevard and in proximity to Hoag Hospital. The Class A property was built in two phases with the North Building fully renovated in 2023, while the South Building was purpose-built and opened in 2021. The three-story buildings are home to independent living, assisted living, and memory care units offered in studio, one- and two-bedroom layouts.

CBRE has arranged a $34.2 million senior loan and a $11.7 million preferred equity investment to finance the acquisition of The Preston, a 334-unit apartment complex in McDonough, Georgia, approximately 30 miles southeast of downtown Atlanta. 

Blake Cohen and Charlie Clark with CBRE Capital Markets’ Debt & Structured Finance in Atlanta represented the borrower, ARC Multifamily, which purchased the property for $52.375 million. The senior loan was secured through Fannie Mae, and Related Fund Management provided the preferred equity. 

CBRE’s Blake Cohen added, “We looked at several different financing scenarios, but the senior loan plus preferred equity structure was ultimately the most accretive execution from a leverage and blended cost of capital standpoint.” 

Located at 100 Preston Creek Dr., The Preston was built in 2001 and includes a mix of one-, two-, and three-bedroom units ranging from 767 square feet to 1,794 sq. ft. Community amenities include two pools, a grilling area, a business center, and a resident lounge.

Dawson Forest, a 268-unit value-add asset located outside of Atlanta, has been picked up by Viking Capital for $52 million. Viking says the asset has value-add potential with a business plan of renovations on 68% of units, equaling a $548,000 upside. The company also says the multifamily community has below-market average rents and a 95% occupancy rate. It’s located at 100 Green Forest Drive, in Dawsonville. It’s Viking’s 26th acquisition.

Public records show Walker & Dunlop originated a $35.2 million Freddie Mac acquisition loan. The note carries a 5.65 percent fixed rate and will mature in 2029.

According to Yardi Matrix data, the previous owner was a joint venture of REM Finance, Archway Equities, MAC Multifamily Investments, MB Capital Assets and Silver Creek Development. The partnership bought the asset for $30.2 million in 2015, according to the same source.

Viking says its investment strategy is identifying low-risk opportunities that offer significant value-add potential, enabling them to preserve investors’ capital while maximizing long-term growth potential.