Rockpoint Joint Venture Secures $39M Financing for Luxury Savannah Build to Rent Project

Rockpoint and 360 Communities land a $38.7M Western Alliance Bank loan for the 199 unit Clear Lake Reserve luxury townhome project near Savannah, Georgia.

By: AXL Media

Published: Mar 12, 2026, 4:36 AM EDT

Source: https://www.multihousingnews.com/

Financing Structure and Capital Stack Details

The $38.7 million debt package reflects the current institutional appetite for stabilized or near completion residential assets. Western Alliance Bank’s three year floating rate note provides the Rockpoint and 360 Communities joint venture with the necessary liquidity to finalize the development phases of the project. JLL Capital Markets’ Debt Advisory team facilitated the transaction, highlighting the continued availability of capital for experienced sponsors in the BTR space, even as broader lending conditions remains selective in 2026.

Project Specifications and Site Layout

Clear Lake Reserve is situated on a sprawling 50 acre site at 11 Ripple Way. The community features a diverse mix of 199 units, including 86 three bedroom and 113 four bedroom townhomes. These residences offer substantial square footage, ranging from 1,385 to 2,010 square feet, designed to appeal to families and professionals seeking an alternative to dense urban apartments. Each unit includes a two car garage, a critical feature for the single family rental demographic. The project celebrated its grand opening in May 2025, though final construction elements are currently being completed.

Upscale Amenities and Community Infrastructure

The development is positioned as a "resort style" luxury community, offering an extensive list of shared amenities. These include a fitness center, a swimming pool, and dedicated sports facilities such as basketball and pickleball courts. Additionally, the site features a clubroom, a dog park, and a playground, supported by 853 parking spaces to accommodate residents and guests. This focus on "horizontal multifamily" amenities is intended to create a neighborhood feel while maintaining the convenience of professional property management provided by 360 Communities, an affiliate of Freehold Capital Management.