Cushman & Wakefield announced today that its Equity, Debt and Structured Finance group in Atlanta has arranged construction, mezzanine and joint-venture equity financing for YOO on the Park, a 25-story, 245-unit luxury apartment building that will rise at 207 13th Street between Juniper Street and Piedmont Avenue, adjacent to Piedmont Park in Midtown Atlanta.
The official groundbreaking for the luxury apartment tower was held February 18, and the project is scheduled to be completed by the summer of 2016.
Mike Ryan, Telly Fathaly, Brian Linnihan, and Jeff Walker of C&W’s EDSF group arranged financing on behalf of The Trillist Companies Inc. The Trillist Companies worked with world famous London-based YOO Studio to design a cutting-edge residential project that will push the boundaries for luxury rental living. The dollar amount of the financing was not disclosed.
“We’re very pleased to arrange this capital stack to facilitate the construction of this luxury residential project, which marks the first in a series of apartment properties to be developed by Trillist and YOO Design Studios. YOO on the Park will also play an important part in the ongoing residential renaissance in Midtown Atlanta,” said Mike Ryan.
Designed to feel like an extension of Piedmont Park, YOO on the Park will incorporate a six-story living wall on the exterior façade and will feature an array of luxury amenities, including multiple resident lounges, indoor and outdoor fitness facilities, a resort-style pool with an outdoor summer kitchen, a bike “fix-it” station and a “pet respite” offering pet facilities and dog grooming.
Trillist Companies and YOO Studio plan to partner on several additional rental residential projects in cities across the U.S., all of which will be branded as YOO residences. The partnership also is developing YOO at Metropica, a 263-unit, 28-story condominium tower to be located within the $1-billion Metropica master-planned community in Sunrise, Fla.