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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.
- ◦Financing
