Atlanta Business Chronicle
Exclusive: Midtown Union closes on $210M construction financing for Invesco’s new HQ office tower (Video)
By Dyana Bagby
December 23, 2020
Development partners for the massive Midtown Union complex now rising at 17th and Spring streets have closed on $210 million in construction financing for the project’s 26-story office tower, the future global headquarters of Invesco (NYSE: IVZ).
Construction financing of $80 million was also secured for Midtown Union’s 18-story, 355-unit luxury residential tower. The mixed-use development that encompasses nearly a full city block also includes a 14-story hotel and thousands of square feet of restaurant and retail space. The $410 million project broke ground last year and is on pace to open by the third quarter of 2022. Focus on finding restaurant and retail tenants is planned for 2021.
Midtown Union is a joint venture of MetLife Investment Management, the real estate arm of MetLife Inc. (NYSE: MET), and Granite Properties, a commercial real estate investment, development and management company.
Atlanta Bisnow
Midtown Union Lands Construction Loan From Wells Fargo
Jarred Schenke
December 23, 2020
Atlanta’s next mixed-use project has landed a big financing package to move forward with construction.
Wells Fargo has loaned $210M to MetLife Investment Management and its partner, Granite Properties, for construction financing of Midtown Union, a mixed-use project off Spring and 17th streets that will be home to Invesco’s headquarters.
ReBusinessOnline
Wells Fargo Provides $290M in Construction Financing for Midtown Union Mixed-Use Development in Atlanta
Alex Tostado
December 23, 2020
ATLANTA — Wells Fargo Bank has provided two construction loans totaling $290 million for Midtown Union, a mixed-use development that broke ground last December in Midtown Atlanta. A joint venture between MetLife Investment Management and Granite Properties is developing a 26-story, 612,000-square-foot office building at the project that will serve as the future headquarters of Invesco. Wells Fargo provided the joint venture with a $210 million loan for the office building, for which general contractor Brasfield & Gorrie has completed seven stories. The office tower will feature 24,000 square feet of ground-level retail, a 12,000-square-foot terrace on the eighth floor, a fitness center and 14-foot floor-to-ceiling windows.
What Now Atlanta
[Renderings] Midtown Union Secures Nearly $300 MM in Office, Residential Construction Financing
Mixed-use project on schedule for third quarter 2022 completion
Caleb Spivak
December 23, 2020
MetLife Investment Management (MIM), MetLife Inc.’s institutional asset management business, and Granite Properties, a commercial real estate investment, development, and management company, Wednesday announced their joint venture has closed construction financing of $210 million with wells Fargo Bank, N.A. for Midtown Union’s 26-story, 612,000 square foot office tower — the future global headquarters of Invesco. In addition, a joint venture of MetLife Investment Management and StreetLights Residential, a national developer of multifamily and mixed-use communities, secured construction financing of $80 million with Wells Fargo for Midtown Union’s 18-story, 355-unit upscale residential tower.