Portman Holdings Secures $150M Construction Financing for Office Tower in Midtown Atlanta
ATLANTA — Portman Holdings has secured $150 million in financing to build a 21-story office building in Atlanta’s Technology Square. The 352,000-square-foot, build-to-suit Anthem Technology Center will be situated near Georgia Tech in Midtown. This area is known as an innovation hotbed with research facilities, incubators, technology start-ups and the Georgia Institute of Technology campus.
Healthcare insurance giant Anthem (NYSE: ANTM) will occupy the space. The offices will serve as a hub for approximately 3,000 IT professionals seeking to enhance consumer healthcare experiences, improve the quality of care and lower healthcare costs.
The building will feature a 14,000-square-foot terrace area with green space. Anthem placed an emphasis on energy and water efficiency, indoor environmental quality and active design standards. The building will also include 7,000 square feet of retail space and alternating two-story spaces connected by a staircase to promote collaboration.
The project’s groundbreaking is scheduled for Feb. 21. Construction is expected to take two years. John Portman & Associates designed the building for Anthem.
PCCP contributed equity financing, while SunTrust acted as the lead lender. Regions also served as a lender for the project. SunTrust will open a full-service branch inside Anthem Technology Center.
Atlanta-based Portman Holdings is a real estate development, investment and management company. The firm has developed more than 50 million square feet of global real estate with a focus on hospitality, office and mixed-use properties.
— Nellie Day