Backers of the 31-story Society Atlanta mixed-use tower in Midtown have secured $182 million in construction financing for the project, which will include 460 apartments and 97,500 square feet of commercial space.
Asset manager and developer PMG and its partner, Toronto-based private-equity firm Greybrook, received the loan from a “major U.S. life insurance company” and Related Fund Management, according to a release. Jones Lang LaSalle brokered the transaction.
“We are thrilled to once again receive support from top lenders alongside our partners at Greybrook,” said Andrew Warman, managing director of capital markets at PMG. “Our Society Living multifamily platform has demonstrated nationally a dedication to fostering thriving, community-centric properties for residents with activated ground-floor retail space for locals and visitors.”
Designed by architecture firm Cooper Carry, Society Atlanta is located at 811 Peachtree St. NE. Community amenities include a pool deck with grilling lounge areas, a “massive” co-working lab with private conference rooms, a modern gym and a fitness studio.
The tower will also include 82,000 square feet of Class A office space, represented by Cushman & Wakefield, and 15,500 square feet of ground-floor retail, represented by Bridger Properties. The general contractor, Juneau Construction Company, broke ground in May. Construction is expected to wrap up in late 2024.