Atlanta -- Developer OliverMcMillan has secured a $167 million syndicated construction loan, led by PNC Capital Markets, LLC, to finance construction of Buckhead Atlanta, the mixed-use retail, residential and office development located in Atlanta’s Buckhead neighborhood.
The loan will cover the full construction of the six-block, 8-acre complex. Five lenders are involved, including PNC Bank, N.A., CIT Finance LLC, Compass Bank, Regions Bank and SunTrust Banks.
Construction began in August 2012, and shops will begin to open in mid-2014. The completed project will include 300,000 sq. ft. of retail stores, restaurants and cafes, more than 100,000 sq. ft. of office space and 370 high-rise residences.
OliverMcMillan worked exclusively with HFF, a real estate capital intermediary, to secure the financing.