Newmark Secures $82M Refi for Atlanta Luxury Condos
- Jun 23, 2021
McKinley Homes has received an $82 million refinancing for 788 West Midtown, a 279-unit luxury condo tower in Atlanta, Ga. Newmark helped the borrower secure the financing with Cerberus Capital Management.
The developer benefited from a $105 million first construction loan for the property in the second half of 2019.
The 22-story resort-style property is located at 788 W. Marietta St. NW and includes studios, penthouses and one- to three-bedroom apartments. Units range in size from 616 to 2695 square feet, with additional terrace and balcony spaces between 68 to 601 square feet. Furnishes include hardwood floors, quartz countertops and deluxe appliances.
Residents have access to a saltwater pool, spa, clubroom, lounge, fitness facility, indoor dog park and dog spa.
The luxury community is close to the Georgia Institute of Technology in West Midtown. Formerly an industrial area, the neighborhood is now home to office buildings, lofts, art galleries and restaurants. Additionally, the property is less than 3 miles from downtown Atlanta.
Jordan Roeschlaub and Dustin Stolly, vice chairmen & co-heads of the New York Debt & Structured Finance with Newmark, led the team that arranged the financing deal.