Mixed UseAUGUST 20, 2019
ACRES Capital (“ACRES”) is pleased to announce the funding of a loan whose proceeds were used to acquire a 1.5-acre development site in Buckhead, an uptown commercial and residential district of Atlanta, GA. The proposed development will be comprised of 483 luxury apartments, with an amenity package that will support the work-live-play culture of Buckhead by including state-of-the-art co-working space, podium-level terrace and pool, and penthouse level lounge. The project is expected to benefit from the area’s solid growing market and strong demographic trends.
Mark Fogel, President & CEO of ACRES commented, “We are excited to close our first transaction with our Sponsors, a leading international real estate investment management company. Their depth of knowledge and experience, in addition to the area’s strong expansion and solid market characteristics, make this an attractive opportunity for ACRES.”