“Georgia State is a growing university with a student body that desires urban living that's close to campus,” says Will Casaday, development manager at South City Partners. “This development augments GSU's efforts to draw more students to live near its downtown campus by fulfilling a very real need for affordable student housing options in the area.”

Construction for 120 Piedmont is expected to begin soon. The anticipated open date is August, 2019. (Check out the student housing facility that recently one a sizeable bridge loan. (And Orlando is getting new student housing as part of a $1 billion mixed-use development.)

“We continue to see very attractive financing available for quality student housing properties nationwide,” Benjamin Roelke of CBRE's Dallas office, tells GlobeSt.com. “In this case, those financing terms were further exceeded with a best-in-class, experienced sponsor acquiring a top of the market property.”

John Wesley

ATLANTA—SunTrust Banks closed on a $58.3 million loan with an affiliate of South City Partners for the development of a 26-story student housing project near the Georgia State University campus. The total cost of the development is nearly $90 million.

Located at 120 Piedmont Avenue Northeast at the intersection of John Wesley Dobbs Avenue, the 467,125-square-foot tower is called 120 Piedmont. The student housing project will accommodate 685 students and include 8,200 square feet of retail space.

“SunTrust is proud of our deep roots in Atlanta, and we get tremendous satisfaction from investing in developments like 120 Piedmont that will contribute to the vibrancy of our city for decades to come,” says Mark Hancock, senior vice president at SunTrust Commercial Real Estate. “This is our second project with South City Partners after the very successful Square on Fifth at Georgia Tech. They understand both student housing and the Atlanta market exceptionally well, and we're pleased to play a part in their latest development.”

Student housing amenities will include a rooftop deck with an outdoor living room, grilling area and study space. The tower will also have a pool and clubhouse, fitness center, on-site library, internet café and Wi-Fi throughout the building, among other amenities.

“Georgia State is a growing university with a student body that desires urban living that's close to campus,” says Will Casaday, development manager at South City Partners. “This development augments GSU's efforts to draw more students to live near its downtown campus by fulfilling a very real need for affordable student housing options in the area.”

Construction for 120 Piedmont is expected to begin soon. The anticipated open date is August, 2019. (Check out the student housing facility that recently one a sizeable bridge loan. (And Orlando is getting new student housing as part of a $1 billion mixed-use development.)

“We continue to see very attractive financing available for quality student housing properties nationwide,” Benjamin Roelke of CBRE's Dallas office, tells GlobeSt.com. “In this case, those financing terms were further exceeded with a best-in-class, experienced sponsor acquiring a top of the market property.”