ATLANTA—OliverMcMillian secured a $167 million syndicated construction loan to finance Buckhead Atlanta, its mixed-use development underway in the heart of Atanta’s upscale Buckhead neighborhood. The loan will cover the entire construction of the six-block, eight-acre complex.
Five lenders are involved in the deal: PNC Bank, N.A., CIT Finance LLC, Compass Bank, Regions Bank, and SunTrust Banks. OliverMcMillan worked exclusively with HFF to secure the construction financing. HFF senior managing directors Trey Morsbach and Mark Sixour led the transaction.
Located at the intersection of Peachtree and West Paces Ferry Roads, Buckhead Atlanta will 1.5 million square feet of residential, retail, and office space. Specifically, the mixed-use project is slated for 300,000 square feet of retail stores, restaurants and cafes, more than 100,000 square feet of office space, and 370 luxury high-rise residences.
While construction began in August 2012, pace on the project is now increasing. Shops are anticipated to begin opening in mid-2014. The project aims to fit into Buckhead Village, with pedestrian-friendly streets. Retailers will include a mix of local, regional, national and international brand names, including French high-fashion house Hermès.