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Atlanta & Southeast  |  October 4, 2019
David Cohen
By: David Cohen

JV Secures Construction Loan for 320-Unit MF Project in Atlanta

Luxury home builder Toll Brothers Apartment Living and an affiliate of global investment firm The Carlyle Group announced the formation of a joint venture to develop Osprey, a 320-unit apartment community in Atlanta’s West Midtown neighborhood.

The JV secured a construction loan from BB&T Real Estate Funding LLC and Comerica Bank. The debt and equity financing were arranged by Toll Brothers’ in-house Finance Department. Toll Brothers will manage the development, marketing, leasing and property management of Osprey.

The project, which topped out in July, consists of a 13-story apartment tower, two five-story buildings and a 540-space parking garage. Amenities at the community will include an outdoor pool, fitness studio, a sky lounge with community bar and a co-working space. The project will also include 30,000 square feet of retail space.

The development is scheduled to be completed Q1 2020.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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