Trending Multifamily News
Development will include 327, class AA+ rental apartments, 25,000 SF of ground-floor retail, and an exclusive two-story lounge on the 17th floor.
The Allen Morris Company, one of the largest diversified real estate firms in the southeast, has closed on a $100 Million construction loan and commenced construction on Stella at Star Metals, the third and most anticipated phase of Star Metals District. Stella has been meticulously designed to integrate the most successful elements of both Sentral at Star Metals and Star Metals Offices to deliver the highest level of luxury apartment living in the City of Atlanta. The Allen Morris Company and its partner, the Alaska Permanent Fund Corporation advised by L&B Realty Advisors, are commencing construction immediately on this 21-story tower.
The financing is syndicated between Santander Bank and TD Bank. Brasfield & Gorrie Construction Company, who recently completed Star Metals Offices for The Allen Morris Company, will once again serve as the general contractor and oversee all construction.
Stella’s amenities will include unobstructed skyline views, expansive rolling green roofs & curated terrace gardens and 25,000 SF of ground floor retail.
The 17th floor has been programed with an exclusive two-story full-service bar spilling out to a private green roof terrace with unobstructed eastward views of the Atlanta skyline. Additional amenities will include a seventh level infinity pool with private cabanas and trellised grilling areas, a state-of-the-art indoor/outdoor gym with floor to ceiling views of the city, a theatre style screening room, and an onsite dog park and spa.
A majority of the 327-units are situated above level six, providing unobstructed views from the building. Unit amenities include floor-to-ceiling windows, 10’ ceiling heights, Italian cabinetry, imported stone countertops, and outdoor balconies ranging from 6ft – 14ft deep, with garden-wrapped balconies on select units.
Stella joins the already completed Sentral at Star Metals with 409 residential units and Star Metals Offices with 270,000 square feet of office space.
There will be approximately 80,000 square feet of retail within the first three buildings of the Star Metals District. Current retailers that have opened or signed on to the Star Metals District include: Prevail Coffee, Fishmonger, Delbar, Momonoki, Hayakawa, Sweet Green, Bach Fitness, Rumble Kickboxing, Savi Provisions, Face Foundrie, Electric Room by Michael Lennox, Patina by Justin Amick and Salty Donut. Publix is expected to open later this year on the site across the street from Stella on Northside Drive and 11th Street.
In December, The Allen Morris Company closed on the 3.3 acres adjacent to Stella and Star Metals Offices where they are planning phases 4, 5 and 6 of the Star Metals District. In total, the Star Metals District will be a $1.5 billion project encompassing approximately three million square feet of development.
The Allen Morris Company’s developments provide residents and tenants alike with the opportunity to indulge in modern living spaces in proximity to Atlanta’s vibrant epicenters. Stella at Star Metals will be the company’s 90th development. It currently also has several developments in process throughout the country.
For additional information visit www.allenmorris.com
Quest will occupy the building’s entire 10th floor
CORAL GABLES, FL – The Allen Morris Company has announced that Quest Workspaces, a leading Florida-based developer and operator of high-quality flexible workspace solutions in Miami and New York, has signed a 22,522 square foot lease at its iconic Alhambra Towers in Coral Gables, located at 121 Alhambra Plaza.
Quest Workspaces will occupy the entire 10th floor of Coral Gables’ premier Class A+ building and is expected to open in Q3 2023.
Quest’s newest location in Alhambra Plaza will be the shared workspace brand’s 13th location throughout Florida and New York. Quest Workspaces is the largest female-owned shared workspace brand in the U.S., has been named one of INC’s 5000 Fastest Growing Companies and has been voted a ‘Best Place to Work’ every year for the past 10 years.
The shared workspace offerings will include individual offices, most with expansive windows, shared meeting spaces and multiple conference rooms of various sizes.
Alhambra Towers’ 10th floor also includes one-of-a-kind amenities, including three large, wrap-around, multi-use outdoor terraces totaling 6,000 square feet, offering 360-degree views of the city.
Quest Workspaces plans on completely renovating the terraces, turning them into zen-like spaces for lunch breaks, casual meetings, recreational usage and special events. The space will be accessible to all building tenants.
Quest’s lease coincides with a $4 million renovation of the building’s lobby and common areas, and the addition of a ground-floor, soon-to-be-announced destination restaurant on the building’s ground floor, scheduled to open this summer.
Lance Benson of Newmark represented Quest, Thad Adams, Maricarmen Cabrera and Rafael del Rosal represented Alhambra Towers.
“We are honored to have Quest Workspaces join the Alhambra Towers family,” says Spencer Morris, President of The Allen Morris Company. “The location of the building, coupled with Quest’s highly successful operating structure is ideal for the post-pandemic hybrid work model desired by so many. The expanded building amenities create an unparalleled value proposition in the shared workspace arena as well as for all of Alhambra Towers’ tenants. The furnished, fully landscaped outdoor terraces will be ideal for special events, lunch, and coffee breaks.”
“We are so excited to expand our presence in Coral Gables, and bring our unique approach to shared workspace to more businesses and entrepreneurs in our community,” says Laura Kozelouzek, CEO of Quest Workspaces. “Our new location in Alhambra Towers is the corner of ‘Main and Main,’ within minutes from dozens of restaurants and hotels. Plus, a building owned and operated by The Allen Morris Company ensures us that our clients are benefiting from being in a superior office building with the highest level of service, quality and amenities.”
The first multifamily development at Xentury City will break ground in the next 60 days
The Allen Morris Company, Xenel International U.S.A. and Principal Real Estate Investors have closed on a $57.2 million construction loan for The Maxwell at Xentury City, a 311-unit multifamily development located in Osceola County. The loan is being provided by Regions Bank.
The Maxwell at Xentury City broke ground in September and has a completion date set for the second quarter of 2024. The General Contractor for the project is Deangelis Diamond.
It will be the first residential phase of a larger 200-acre mixed-use development in Xentury City that will offer live, work, play offerings like first-class dining, entertainment, and now, a residential offering.
The 293,000 square feet community will contain five garden-style buildings with a total of 311 residential units and features world-class amenities throughout. The project site is adjacent to the Gaylord Palms Resort and Convention Center.
“We are very pleased to expand our relationship with Regions Bank for the construction loan of The Maxwell – Regions was steadfast throughout the process and provided a strong execution for the partnership,” said Spencer Morris, President of the Allen Morris Company.
“We are proud to be the Allen Morris Company’s lending partner to start construction on a project that will transform the area into a thriving multifamily destination,” adds Mercedes Montalvo, Senior Vice President, of Regions Bank.
“From our early conversations with Allen Morris, Principal Real Estate Investors gained a lot of confidence in being culturally aligned along with Allen Morris’ ability to execute on The Maxwell development plan. We have been watching this area of Orlando evolve and are excited to partner with the team they’ve put together as well as the opportunity to extend our relationship with Regions. Principal believes in the strong fundamentals within this market and looks forward to delivering a first-class multi-family community.” adds Rob Klinkner, Managing Director for Principal Real Estate Investors.
Dwell Design Studio, an award-winning architecture, planning and interior design firm, and Shim Studios as interior designer will spearhead the project.
The Maxwell at Xentury City is close to all the theme parks including Disney World and Universal Studios and has developed a major transportation network to access the site. The site is also 30 minutes from Downtown Orlando and 20 minutes from Orlando International Airport.
For additional information visit www.allenmorris.com.
W. Allen Morris will retain title as Chairman & CEO
Miami, Fla. (JUNE 29, 2022) – The Allen Morris Company (AMCO), one of the largest diversified real estate firms in the southeast, has named W.A. Spencer Morris, President. Morris was most recently Chief Investment Officer (CIO) for the organization.
Morris has been an integral part in furthering AMCO’s investment management division, along with its development business, and opening new lines of business such as AMS Hospitality.
In his new role, he will oversee AMCO’s investment portfolio, now surpassing $1.5 billion, projects under construction and $2.5 billion in new pipeline development opportunities. Morris will continue to serve on the Board of Directors of AMCO and AMS Hospitality.
“Spencer (Morris) has proven that he can successfully engage with every division of our enterprise,” said W. Allen Morris, Chairman & CEO of the Allen Morris Company. “We are in a significant stage of growth at AMCO, and I am very much looking forward to working with Spencer in his new role.”
The multi-faceted Allen Morris Company has several projects throughout Atlanta, Central Florida and South Florida, and is currently looking at new opportunities throughout the Southeast.
“Having grown up watching my grandfather and father run the Allen Morris Company – it is with great pride that I will serve in this role,” said W.A. Spencer Morris. “During my leadership, I look forward to building on the Company’s rich tradition of many ‘firsts’ over its 64 years while continuing to evolve the business to meet today’s marketplace needs.”
Morris was previously with The Related Group, where he served as Development Associate of the 58-story, 1.3 million square foot SLS LUX-Brickell hotel and condominium as well as other projects.
Morris received his Bachelor of Science degree in Liberal Arts from Boston University.
For more information on the Allen Morris Company, please visit www.allenmorris.com
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About Allen Morris Company:
Allen Morris Company is one of the largest real estate firms in the Southeast U.S., completing their 85th development project and specializing in office buildings, multi-family residential, hotels, mixed-use developments, leasing and brokerage, and property management. With offices in Miami and Atlanta, the Allen Morris Company has served its business and investment clients for 64 years. For more information, please visit www.allenmorris.com, or follow us on Instagram at @allenmorrisco.
Commercial lender provides financing to prominent developer Allen Morris Company
ATLANTA, GA – (May 19, 2022) Trez Capital, a private real estate lender helping to build better communities across North America, provided a $24,538,939 loan to fund a renowned developer’s acquisition of 15.5 acres zoned for high-density, mixed-use development in the Atlanta market. The land is located next to the Westside Trail of the Atlanta BeltLine in West Midtown, an area experiencing substantial growth and investment.
The borrower,. Miami-based Allen Morris Company, acquired the site. The seller, Tenth Street Ventures, will stay on as a partner.
Trez Capital Managing Director-Atlanta Caperton Putt originated the loan on behalf of the sponsor, 1060 DLH, LLC. The Atlanta office is part of Trez Capital’s Southeastern U.S. region led by Executive Managing Director Brett Forman.
“This project will ultimately help the local community grow by bringing new investment to the area,” Putt said. “The developer will take a largely vacant tract of land and convert it into a neighborhood destination with broad service offerings.”
1060 Donald Lee Hollowell Parkway sits within the energetic industrial chic “entertainment” district that is in Atlanta’s Westside. The area surrounding the site has expanded significantly in recent years, bringing new investments to the area. The site is adjacent to a future BeltLine junction connecting to the Westside Trail and near the planned Microsoft campus at Quarry Yards that will bring 15,000 jobs to the area.
“We are believers in the long-term growth story of the Westside,” said Spencer Morris, President of the Allen Morris Company. “We look forward to collaborating with the Atlanta Beltline Inc. and surrounding neighborhood groups to design a mixed-use project that serves the community, and creatively activates the upcoming fourth phase of the Westside Beltline Trail.”
Allen Morris Company has a six-decade track record of more than 85 successful developments in Florida, Georgia and other U.S. markets. Active Georgia projects include the phased StarMetals District mixed-use development in Atlanta and Westin® Foxhall Resort + Spa in Douglasville.
“This is our first loan with the Allen Morris Company, which has an incredible reputation for developing successful real estate projects throughout the Southeast U.S.,” Forman said. “We look forward to growing our relationship working together in the future.”
Lauren Hanley of Patterson Real Estate Advisory Group brokered the transaction.
Forman said the deal showcases Trez Capital’s lending capabilities in the Atlanta market. In 2021, the Canadian-based private lender funded a $12 million loan for a build-to-rent townhome project in Lawrenceville called Sweetwater Springs. It also funded a $25 million acquisition and construction loan for a downtown Atlanta hotel, and a $26.7 million loan for an acquisition and construction loan for a 67-acre mixed-use project and entertainment center known as the Exchange at Gwinnett in Buford.
Trez Capital provides short-term debt and equity financing typically between six and 36 months in term, up to $100 million in loan value. In 2021, the company originated $3.9 billion in loan originations with $633 million sourced from the Southeastern U.S. region that includes offices in Palm Beach, Florida and Atlanta, Georgia. Trez Capital has nine offices across North America.
The Atlanta office is located at 3414 Peachtree Road NE, Suite 270 in the Buckhead district. To reach Putt, call (470) 206-7001 ext. 7005 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
Commercial lender provides financing to prominent developer Allen Morris Company
ATLANTA, GA – (May 19, 2022) Trez Capital, a private real estate lender helping to build better communities across North America, provided a $24,538,939 loan to fund a renowned developer’s acquisition of 15.5 acres zoned for high-density, mixed-use development in the Atlanta market. The land is located next to the Westside Trail of the Atlanta BeltLine in West Midtown, an area experiencing substantial growth and investment.
The borrower,. Miami-based Allen Morris Company, acquired the site. The seller, Tenth Street Ventures, will stay on as a partner.
Trez Capital Managing Director-Atlanta Caperton Putt originated the loan on behalf of the sponsor, 1060 DLH, LLC. The Atlanta office is part of Trez Capital’s Southeastern U.S. region led by Executive Managing Director Brett Forman.
“This project will ultimately help the local community grow by bringing new investment to the area,” Putt said. “The developer will take a largely vacant tract of land and convert it into a neighborhood destination with broad service offerings.”
1060 Donald Lee Hollowell Parkway sits within the energetic industrial chic “entertainment” district that is in Atlanta’s Westside. The area surrounding the site has expanded significantly in recent years, bringing new investments to the area. The site is adjacent to a future BeltLine junction connecting to the Westside Trail and near the planned Microsoft campus at Quarry Yards that will bring 15,000 jobs to the area.
“We are believers in the long-term growth story of the Westside,” said Spencer Morris, President of the Allen Morris Company. “We look forward to collaborating with the Atlanta Beltline Inc. and surrounding neighborhood groups to design a mixed-use project that serves the community, and creatively activates the upcoming fourth phase of the Westside Beltline Trail.”
Allen Morris Company has a six-decade track record of more than 85 successful developments in Florida, Georgia and other U.S. markets. Active Georgia projects include the phased StarMetals District mixed-use development in Atlanta and Westin® Foxhall Resort + Spa in Douglasville.
“This is our first loan with the Allen Morris Company, which has an incredible reputation for developing successful real estate projects throughout the Southeast U.S.,” Forman said. “We look forward to growing our relationship working together in the future.”
Lauren Hanley of Patterson Real Estate Advisory Group brokered the transaction.
Forman said the deal showcases Trez Capital’s lending capabilities in the Atlanta market. In 2021, the Canadian-based private lender funded a $12 million loan for a build-to-rent townhome project in Lawrenceville called Sweetwater Springs. It also funded a $25 million acquisition and construction loan for a downtown Atlanta hotel, and a $26.7 million loan for an acquisition and construction loan for a 67-acre mixed-use project and entertainment center known as the Exchange at Gwinnett in Buford.
Trez Capital provides short-term debt and equity financing typically between six and 36 months in term, up to $100 million in loan value. In 2021, the company originated $3.9 billion in loan originations with $633 million sourced from the Southeastern U.S. region that includes offices in Palm Beach, Florida and Atlanta, Georgia. Trez Capital has nine offices across North America.
The Atlanta office is located at 3414 Peachtree Road NE, Suite 270 in the Buckhead district. To reach Putt, call (470) 206-7001 ext. 7005 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
