A joint venture behind a pair of apartment towers planned for Juniper Street between 11th and 12th streets in Midtown secured $245 million of construction financing for its project, which will occupy a full block just east of Piedmont Park.
Charleston, S.C.-based Middle Street Partners and AECOM-Canyon Partners began work last month on the development, which will feature 320 units in a 36-story north tower and 167 boutique units in a 33-story tower to the south. Both will offer street-level retail.
“We believe this block of Midtown is the preeminent residential address in all of Atlanta — and by extension, one of the best in the Southeast,” director of development Ed Alexander said in a press release. “Piedmont Park and its 185 acres of greenspace and trails and access to the Atlanta Beltline are just one block away. Vibrant restaurants, nightlife, museums and retail destinations abound in every direction, and we are in the epicenter of the city’s premier office submarket.”
AECOM-Canyon Partners is a joint venture between AECOM Capital and Canyon Partners Real Estate, and was established to develop large-scale, institutional quality commercial real estate in top U.S. markets. Other members of the partnership include construction lenders Bank OZK and Related Fund Management, general contractor Brasfield & Gorrie, interior designer CID Design Group and Brock Hudgins Architects. Eastdil Secured arranged the construction loan, and Berkadia’s JV Equity & Structured Capital Group, led by Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt, advised Middle Street Partners.