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Toll Brothers, PGIM kick off Midtown apartment-tower development

by John Yellig

Courtesy of Toll Brothers Inc.

U.S. luxury homebuilder Toll Brothers Inc. and a subsidiary of global asset manager PGIM formed a joint venture to develop Momentum Midtown, a 36-story luxury apartment tower at 1018 West Peachtree St. in Atlanta.

The JV secured a $96 million construction loan facility from Wells Fargo Bank NA to cover development of the 376-unit property, according to a press release.

Toll Brothers Inc. unit Toll Brothers Apartment Living will manage the development, marketing, leasing and property management of the development, which will rent market-rate studios and one-, two- and three-bedroom luxury apartments with a 431-space parking garage for residents. The community will feature a resort-style rooftop pool and lounge with cabanas, outdoor bar, dining room, exhibition kitchen, theater, indoor/outdoor game room and sky lounge. Other amenities include a fitness center, club room and coffee bar, co-working space, Wi-Fi throughout the property and a pet spa.

Toll Brothers Apartment Living President Charles Elliott said Momentum Midtown will be Toll Brothers’ fourth project in Atlanta.

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