Greystar Refis Apartments in Austin and Atlanta With $126M Loan

A joint venture between Myers Apartment Group and Torchlight Investors has sealed a $125.5 million loan to refinance a multifamily portfolio in Texas and Georgia, Commercial Observer can first report.

Greystar provided the loan for the sponsorship’s MAG portfolio comprising nearly 800 garden-style apartments units in Austin, Texas, and the Atlanta metropolitan region.

“This financing underscores Greystar’s commitment to supporting strong sponsors in markets where demand for quality rental housing remains high,” Patrick Reilly, managing director at Greystar, said in a statement. “The MAG portfolio reflects well-located, thoughtfully designed communities that will continue to attract residents and create long-term value.”

JLL arranged the transaction with a team consisting of Gerard Sansosti, Peter Rotchford, Nicco Lupo and Clayton Ross.

The portfolio features Citadel at Tech Ridge in Austin; Highlands at Sweetwater Creek in Duluth, Ga.; and Symphony at Suwanee Creek in Suwanee, Ga.. The properties were developed between 2019 and 2021 and have a combined 91.7 percent occupancy rate, according to JLL.  

Located at 1127 Pearl Retreat Lane in Austin’s Tech Ridge neighborhood, the 308-unit Citadel at Tech Ridge is 12 miles from Downtown Austin. Community amenities include a swimming pool, resident clubhouse and business lounge. 

The 290-unit Highlands at Sweetwater Creek at 2789 Satellite Boulevard is 25 miles northeast of Downtown Atlanta. Property amenities include a fitness center, a pool with sun deck, electric vehicle charging stations and a dog wash station 

Symphony at Suwanee Creek on 1630 Peachtree Industrial Boulevard is 30 miles from Downtown Atlanta. Its amenities include a pool, pickleball courts and EV charging stations.  

Jeremy Myers, principal at Myers Apartment Group, said in a statement that JLL “effectively secured Greystar as the ideal lending partner” and brought the financing “to a successful close.”

Torchlight Investors did not immediately return a request for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.