Savannah-Area Multifamily Project Draws $61M in Debt and Preferred Equity
Bank OZK provides $48 million in credit, FCP $13 million in equity for construction
By Brian Pascus June 3, 2025 12:14 pm
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Bayline Group has secured $60.75 million of debt and preferred equity financing to build Mosaic Pooler, a 333-unit apartment community outside of Savannah, Ga., expected to be completed in early 2027, Commercial Observer has learned.
Bank OZK provided $47.5 million in debt financing structured around a three-year, floating-rate loan, while FCP provided $13.25 million of preferred equity. Berkadia’s Mitch Sinberg, Scott Wadler, Bryan Brown, Robert Falese and Jake Adoni all worked together across different offices to arrange the financing package.
“The sponsor’s strong track record, combined with significant demand for workforce housing in the Savannah metro area, made this an attractive opportunity for both the lender and equity provider,” Wadler said in a statement.
Mosaic Pooler is being built in Pooler, Ga., a city 10 miles west of Savannah. Bayline Group acquired the 12 mile site for development back in 2023. The apartment complex of Mosaic Pooler is expected to be part of the larger Mosaic Town Center, which will eventually become a 170-acre mixed-use development.
Mosaic Pooler includes more than 300 one- to three-bedroom units that average nearly 1,000 square feet, while on-site amenities include an outdoor pool, a fitness center, a resident lounge, a dog park and pet spa, and electric vehicle charging stations.
Bayline Group did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialobserver.com
