Allen Morris Lands $100M Loan for Star Metals Office Building in Atlanta
Barings and Bank OZK provided $100 million for the office building project. The equity was provided by MBR, LLC, an affiliate of The Allen Morris Company and ICM Asset Management, Inc. of Calgary. Holliday Fenoglio Fowler, L.P. arranged the transaction.
ATLANTA—The Allen Morris Company of Coral Gables, FL reports it has closed on a $100-million construction loan to build a new 267,000 -square-foot Star Metals Offices in West Midtown here.
The project is part of the $330-million mixed-use Star Metals Atlanta development. Barings and Bank OZK provided $100 million for the office building project. The equity was provided by MBR, LLC, an affiliate of The Allen Morris Company and ICM Asset Management, Inc. of Calgary. Holliday Fenoglio Fowler, L.P. arranged the transaction.
The 14-story, Class ‘A’ LEED certified office tower will also include approximately 40,000 square feet of retail and restaurants. Located at 1055 Howell Mill Road, Star Metals Offices is part of the comprehensive Star Metals Atlanta development, that includes the nine-story, 409-unit Star Metals Residences located at 1050 Howell Mill Road that is scheduled to be delivered in July 2020, as well as commercial, hotel, entertainment and food and beverage components.
“This is our 84th development and our 22nd project in Georgia. Star Metals Offices is intended to shatter the paradigm with the most innovative, creative attractive work environment in Atlanta. It’s definitely not your grandfather’s office building,” says W. Allen Morris, chairman and CEO of The Allen Morris Co. “We are attracting the most innovative, disruptive companies that want to recruit and retain the top creative, tech-savvy workforce in the City. For a CEO or CFO, it is a smart strategic move that will set their company apart from the pack.”
Star Metals Offices is scheduled for delivery in Fall of 2020. The HFF debt placement team representing the borrower was led by senior director Geoff Goldstein, managing director Gregg Shapiro and director Matt Casey.
Designed by design architect Chad Oppenheim of Oppenheim Architecture and Warner Summers Architecture firm, Star Metals Offices will feature 5,000 square feet of high ceiling retail on the ground floor and a 5,000-square-foot roof top restaurant/bar space and five levels of parking.
Tenant amenities will include lushly landscaped outdoor terraces, multiple tenant collaboration areas, a fitness center, bike storage/shower facilities and locker rooms. A roof top restaurant / bar will provide a unique ‘glass house’ rooftop amenity with panoramic views of Buckhead, Midtown and Downtown Atlanta.