Allen Morris Company Closes $64M Construction Loan for Druid Hills Multifam￼￼
Allen Morris Company has closed on a $64-million construction loan for Bryn House, a luxury mixed-use, five-story, 337-unit residential building located in the Atlanta metro community of Druid Hills. The development will include 574,479 buildable square feet, inclusive of a 175,000-square-foot parking deck and 2,000 square feet of of ground floor retail.
The loan was granted by Truist and PNC. The under-construction community has an estimated spring 2023 completion.
“With the expansion of the Emory and Children’s Healthcare of Atlanta medical campuses, the North Druid Hills corridor is poised to become a world-class medical and bioresearch hub,” said Spencer Morris, chief investment officer of Allen Morris Company. “As a result, we believe there’s a distinct need for high-quality rental housing in the neighborhood that isn’t currently being met.”
Allen Morris Company has several projects throughout the greater Atlanta area, Central FL and South FL and is considering opportunities throughout the Southeast.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!