Hillpointe has secured $36 million for the refinancing of Pointe Grand Macon, a 276-unit community in Macon, Ga. Berkadia originated the two-year bridge loan with a floating interest rate.
Previous financing for the community includes a $26.4 million construction loan from Cadence Bank dating back to June 2022, according to Yardi Matrix data. Construction on the project started in May 2022 and was completed earlier this year.
The Class A community consists of two-bedroom units of 1,170 square feet. Common-area amenities of the 24-acre property include a clubhouse, swimming pool with cabanas, fitness center, business center, as well as EV charging stations.
Located at 5560 Riverside Drive, the community is 1.4 miles from The Shoppes at River Crossing, which offers several dining and entertainment options. River North County Club and Town Creek Picnic Rock are within a 6-mile radius, while Macon Downtown Airport is some 13 miles southeast.
Berkadia’s team that secured the bridge loan included Managing Director Michael Weinberg and Associate Director Wesley Moczul. Earlier this year, Weinberg was part of the team that secured $92 million in financing for the development of Tampa Heights Apartments, a 321-unit community in Tampa, Fla.
Year-to-date through October, four communities came online in Macon, adding 732 units to the market, Yardi Matrix data shows. Currently, there are 13 properties under construction or in different planning stages in the market, which, upon completion, will add roughly 1,960 apartments to the stock.
