StreetLights, MetLife JV Secures Atlanta Refi
A major life company provided the loan.
StreetLights Residential and MetLife Investment Management have secured an $82 million floating-rate refinancing loan for Mira at Midtown Union in Atlanta. The financing was provided by PGIM Real Estate.
The 26-story property features 355-units. The refinancing funds will help with the lease-up of the community’s 7,608 square feet of ground-floor retail space.
Mira at Midtown Union includes studio, one-, two- and three-bedroom floorplans, along with penthouse homes ranging from one- to three-bedrooms. It is 79 percent occupied, Yardi Matrix data shows.
Community amenities include a resident lounge, coffee bar, pool, sunset deck with fire pits and grills, pet spa, dog wash station, multi-room fitness center and coworking spaces. Individual units feature washers/dryers, smart unit entry locks, walk-in closets, granite countertops, custom undercabinet and pendant kitchen lighting and kitchen islands. Select homes feature patios with a fireplace or balconies.
According to Yardi Matrix data, Mira at Midtown Union was developed with an $80 million construction loan, originated in 2021 by Wells Fargo Bank. It matured in December 2024. The community is managed by Rangewater.
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Mira at Midtown Union is situated within the master-planned development of Midtown Union, featuring hotel and office spaces. Located at the intersection of Spring Street and 17th Street, the project includes multiple high-rise buildings in the Midtown Arts District.
Residents of the community are nearby major employment centers including Coca-Cola and Southern Company Gas. Within a half-mile of the community are MARTA train, theatres, dining options and retail.
Late last year, StreetLights Residential’s The Maris opened for leasing. Situated in Austin’s Lakeline neighborhood, the community features 276-units with floorplans ranging from 517 to 1,684 square feet. Common-area amenities include coworking spaces, a coffee bar, a billiards room, a prep kitchen, dog washing stations and a bike storage area.
