Pine Grove Communities has secured a $36.4 million construction loan for Foxgrove on Castleberry, a 198-unit single-family rental community in Dawsonville, Georgia. Dawsonville is about an hour north of Atlanta. A CBRE team led by Mike Ryan arranged the financing.

“Foxgrove on Castleberry is a prime example of the fast-growing single-family built-to-rent market that is capitalizing on homeowner affordability, flexibility, and strong demographic trends,” said CBRE’s Ryan.

Castleberry will include 37 detached homes and 161 townhomes with an average size of 1,898 square feet. Units will range from three to four bedrooms, including two-car garages. 

Additionally, each unit will feature private entrances and private patios. The development will include amenities such as a clubhouse, pool with grilling stations, firepit, pocket parks, a central activity lawn, and walking trails. Sitework has already begun on the project, and vertical construction is expected to begin next summer.

Register today for Connect Phoenix Multifamily & Single-Family Build-to-Rent, scheduled for April 18 at the Westin Kierland Resort & Spa, Scottsdale, AZ.