New York Life Real Estate Investors has provided a seven-year, $88.7 million fixed-rate mortgage loan to Carter-Haston to finance The Edge on The Beltline. The Class A mixed-use apartment community is located at 670 Dekalb Ave. NE in Atlanta. The Edge on The Beltline is a three-year-old, 350-unit multifamily property in the Inman Park neighborhood, next to the popular Eastside Trail of the Atlanta Beltline. The property includes 29,000 square feet of retail space.
The Edge on The Beltline features two five- and six-story elevator-served buildings of steel frame construction. The unit mix of the rental community features studio, one-, two- and three-bedroom apartments. Features and finishes of residences include washers and dryers, above-standard ceiling heights, microwave ovens and high-speed Internet access. Select units feature private balconies or patios. Among common-area amenities of the apartment community is a swimming pool.
Residents of The Edge on The Beltline benefit from the many amenities located around the Beltline, an elevated urban trail that has proven enormously popular with locals and visitors to the city. Trendy nightspots and restaurants, along with art installations, are situated steps from the Beltline.
The apartment community is located 1.3 miles, or 25 minutes, from Georgia State University. Five transit or subway stations are located within 1.7 miles of the property. Parks and recreation amenities within 40 minutes of the apartment community include Trees Atlanta TreeHouse, Trees Atlanta, Georgia Capitol Museum, Zoo Atlanta and Imagine It! The Children’s Museum of Atlanta. Two military bases, Fort McPherson and Fort Gillem, are within 11.3 miles of the property. Last month, Allen Morris enlarged its Atlanta presence with a $100 million development.