BRASFIELD & GORRIE DELIVERS $88.7M LUXURY APARTMENTS IN MIDTOWN ATLANTA

ATLANTA — Brasfield & Gorrie has completed 77 12th, a 23-story upscale apartment community located in Atlanta's Midtown submarket. Brasfield & Gorrie's construction budget was $57 million, with total development costs for the property reaching $88.7 million. The project comprises 615,000 square feet, with 330 residential units and 23,000 square feet of retail space. The new residential units feature granite countertops, stainless steel appliances, floor-to-ceiling windows and private balconies. The community also features a 20,000-square-foot outdoor plaza that has a saltwater pool, bocce ball courts, a private terrace and several outdoor fireplaces. The rental rates are among the highest in Midtown, according to Brasfield & Gorrie. More than 80 percent of the units have been reserved and nearly all of the retail space has been leased. Brasfield & Gorrie worked with Daniel Corp. and Selig Enterprises on the project. Northwestern Mutual provided construction financing for the new apartment community.