Alpharetta-based Parkland Communities has embarked on another build-to-rent development, a 317-home project in Centerville, just outside of Warner Robins. 

Parkland’s construction unit, Parkland Homebuilders, secured a $22.49 million lot-acquisition and construction loan from Palm Beach, Florida-based Forman Capital. The funding will be used for the first of four phases of construction, bringing 109 single-family homes to the area. 

Rents at the new community, which is located at 3930 US Highway 41, are expected to range from $1,900 to $2,400 per month for homes with two, three and four bedrooms. The area serves Robins Air Force Base, which employs about 25,000 civilians, military personnel and contractors.  

“With the air force base and several other major employers in the immediate area, there is a significant housing shortage, and this developer has shovel-ready lots to help ease that burden,” Forman Capital Chief Investment Officer Scott Mehlman said in a release. “We are bullish on specific, targeted tertiary markets that are growing and have the right economic fundamentals we look for in our investments, especially in the Sun Belt states.”  

The financing is not Forman Capital’s first deal with Parkland. In May, the firm provided the developer a $5.5 million loan for a 5.5-acre development site zoned for 67 rental townhomes in Lawrenceville. In 2021, Forman principals helped finance another Parkland project, a 58-townhome community also located in Lawrenceville.