Capital City Real Estate has secured multi-million-dollar construction financing for Spivey Grove. The project will offer modern apartment living in Stockbridge. The development is the latest addition to the company’s expanding Atlanta-area multifamily portfolio.
Capital City Real Estate Closes Construction Financing for Spivey Grove
Capital City Real Estate (CCRE) has closed construction financing for Spivey Grove. The $74 million financing will support construction of the Class A garden-style apartment community in Stockbridge, Georgia.
The project will be built at the intersection of Highway 138 and Spivey Road. The company is developing multifamily communities in growing suburban markets. The financing marks another step in CCRE’s expansion across the Atlanta area.
According to Scott Zimmerman, founder and CEO of CCRE, the project reflects the company’s confidence in Stockbridge’s long-term growth. It also highlights the company’s goal of creating communities that promote connection, nature, and quality of life.
CCRE is developing this project in partnership with CamWest Companies. Construction financing was provided by Protective Life Insurance Company. William Lawson of BWE served as the capital markets advisor. Silver Studio is the architect, and Fortune Johnson will serve as the general contractor.
Spivey Grove adds to CCRE’s development pipeline, which includes projects across Georgia, North Carolina, Virginia, Maryland, and Washington, D.C. The company currently has more than $550 million worth of projects under construction or in pre-development.
Project Details
Spivey Grove is a new 318-unit garden-style apartment community in Stockbridge. It is designed to offer modern apartment living with a focus on wellness and community. The community is inspired by the idea of a peaceful grove.
The development will add elements to encourage outdoor living and neighborly connections. The community will include six residential buildings with one-, two-, and three-bedroom apartments.
Planned amenities for Spivey Grove include a resort-style swimming pool, fitness center, and co-working lounge. It will also include a dog park, walking trails, garage parking, and community gathering spaces.
Spivey Grove is located in Henry County, which is one of metro Atlanta’s fastest-growing areas. It will provide easy access to Interstate 75 and major employers, including Piedmont Henry Hospital, Trilith Studios, and more.
The financing marks another milestone for Capital City Real Estate as it expands its multifamily portfolio. Once completed, Spivey Grove will add 318 new apartment homes in Stockbridge.
