Pensam is pleased to announce the successful closing of a preferred equity investment to facilitate the refinancing of The Blakely, a newly developed, 420-unit Class-A multifamily community in Pendergrass, Georgia. The preferred equity investment from Pensam was paired with a newly placed Fannie Mae loan. The $96M property is owned and operated by a repeat Pensam sponsor.
The $96 million property is owned and operated by a repeat Pensam sponsor, reinforcing our commitment to fostering strong, long-term relationships with experienced real estate partners.
“Given the incredible success the sponsor achieved at the property, Pensam was able to offer them a higher leverage capital solution,” said Ray Cleeman, Head of Capital Markets and Lending at Pensam. “This transaction helped the sponsor recapture much of their initial investment and secure long-term fixed-rate financing to replace their floating-rate debt. Working with repeat sponsors is a testament to Pensam’s reputation and relationships with our sponsors, as well as our ability to execute transactions quickly and efficiently.”
For more information on Pensam’s investment strategy and capital solutions, please contact us at info@pensamcapital.com.
