CBRE Arranges $72.8 Million in Acquisition Financing for Two Novo Multifamily Communities in Atlanta

CBRE has secured two acquisition loans totaling $72.8 million on behalf of ARC Multifamily for the purchases of Novo Stockbridge in Stockbridge, Georgia, and Novo Sweetwater in Lithia Springs, Georgia.

The financing was arranged by Blake Cohen and Charlie Clark with CBRE’s Debt & Structured Finance team in Atlanta.

The portfolio comprises 594 Class A garden-style units built in 2023 and 2024 by developer Shelton McNally. Both assets were previously marketed by CBRE’s Investment Sales team and are located in two of Metro Atlanta’s fastest-expanding suburban corridors. The financing was structured as two separate Fannie Mae acquisition loans; $34.79 million for Novo Stockbridge, and $38.05 million for Novo Sweetwater.

Novo Stockbridge, located at 3151 Mount Zion Road in Stockbridge, delivers immediate connectivity to I‑75 and I‑675, offering access to the South Atlanta Industrial Submarket—Metro Atlanta’s largest industrial hub. The community benefits from proximity to major employment centers, including Hartsfield‑Jackson Atlanta International Airport and the rapidly expanding medical district, anchored by Piedmont Henry Hospital’s $212 million expansion.

Novo Sweetwater, located at 1521 Lee Road in Lithia Springs, is situated less than a quarter‑mile from I-20, providing swift regional access to key employment nodes such as the Fulton Industrial District, Hartsfield-Jackson Airport, and Downtown Atlanta. The community also benefits from its adjacency to major mixed-use development activity, including the $350 million Trails development.

“These acquisitions were a great fit for ARC’s current investment strategy of buying newer vintage, well-located assets below replacement cost,” said Blake. “We are pleased to support the ARC team as they continue to grow and expand their presence in Atlanta and throughout the Southeast.”