ATLANTA — Allen Morris Co., a mixed-use developer based in Coral Gables, Fla., has received a $113.7 million loan from Mexico-based Banco Inbursa for the refinancing of Star Metals Offices, a 267,000-square-foot office tower in Atlanta’s West Midtown neighborhood. The transaction will retire the existing construction loan provided by Bank OZK and Barings.
“This refinancing is a testament to the quality and curation of what we have built at Star Metals Offices,” says Spencer Morris, president of Allen Morris Co. “Securing this financing package from Banco Inbursa — an institution that has become one of the most active and discerning real estate lenders in the country — reflects the caliber of our tenants, our retail program and the broader Star Metals District vision.”
The 15-story office tower, which is 97 percent leased, opened in July 2021 and is the centerpiece of the $1.5 billion Star Metals District development. Tenants include Outreach, a new-to-market tech company; Nike’s regional technology hub; Signature, a leading coworking group; PrizePicks; Nelson Architecture; Brand Apart; PagerDuty; Sovos; and BMI, among others.
Designed by Oppenheim Architecture and Warner Summers Architecture, Star Metals Offices features exterior balconies on each level, as well as a coffee shop, outdoor lounges/workspaces, a 5,000-square-foot rooftop restaurant and bar and a 30-person conference center.
The building also comprises roughly 40,000 square feet of ground-floor retail with tenants such as Michelin-starred Sushi Hayakawa, Eden by Delbar, Lucky Star by Brish Sushi, Flight Club and Bach Fitness.
The overall Star Metals District comprises 267,000 square feet of office space; the 327-unit Stella at Star Metals and 409-unit Sentral at Star Metals residential communities; more than 100,000 square feet of retail and restaurants; the upcoming Star Metals Hotel & Residences and Ladybird at Star Metals, the second location of the well-known bar and restaurant situated along the Atlanta Beltline.
Construction on the newest high-rise buildings and public park spaces is slated to continue over the coming years.
— Abby Cox