Rendering of Star Metals Residences, 1050 Howell Mill Road, Atlanta, GA
ATLANTA, GA—New York-based Square Mile Capital Management has originated a $90 million construction loan to finance the development of Star Metals Residences, a multifamily building with ground floor retail to be developed in West Midtown, Atlanta, GA.
“We are pleased to have the opportunity to provide financing to a strong developer, The Allen Morris Company, with significant experience within the Southeast US,” says Eric Cohen, Square Mile Capital vice president. “This transaction allowed us to further expand our lending portfolio in Atlanta by capitalizing a project that will be one of the highest quality apartment properties in the market. The project is well-positioned to capitalize on the growth of West Midtown as one of Atlanta's fastest growing submarkets.”
Located at 1050 Howell Mill Road in West Midtown, the completed property will consist of a nine-story building with 409 rental apartment units, 16,300 of ground floor retail, and an onsite parking garage. The project is close to Atlanta's major employment centers, and many units will feature views of the Atlanta skyline from Buckhead to Downtown. Planned amenities include a private outdoor dog run, interior dog wash area, Uber drop-off room for residents, resident library with fireplace, and the Level 9 Rooftop with lounge/meeting rooms, an indoor/outdoor activated rooftop bar and lounge, a game room area with pool table, gaming systems and arcade games, outdoor ping-pong and bocce ball, a glass-box fitness center opening onto the pool terrace, an outdoor grilling area, an outdoor movie projection area, outdoor fire pits and seating groups.
The Allen Morris Company is one of the largest diversified commercial real estate firms operating in the Southeastern United States. Square Mile Capital originated the loan alongside senior financing provided by Pacific Western Bank.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
