{"id":1004168769,"date":"2017-03-09T07:27:16","date_gmt":"2017-03-09T15:27:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004168769"},"modified":"2022-12-08T16:37:53","modified_gmt":"2022-12-09T00:37:53","slug":"atlanta-medical-office-development-receives-16m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlanta-medical-office-development-receives-16m-financing\/","title":{"rendered":"Atlanta Medical Office Development Receives $16M Financing"},"content":{"rendered":"

By Evelina Croitoru<\/em><\/p>\n

\"371<\/a>

371 East Paces<\/p><\/div>\n

Atlanta<\/strong>\u2014Square Mile Capital Management LLC has announced that the company has arranged\u00a0a $15.8 million mezzanine loan to finance the construction of a medical office building in Atlanta. The asset is being developed by Atlanta-based real estate development and investment firm The Loudermilk Cos. Cushman & Wakefield is leasing the office building that is slated to come online in 2018<\/p>\n

Located at 371 East Paces Ferry Road NE in Buckhead Village neighborhood, the project is one block east of Oliver McMillan\u2019s new $1 billion mixed-use development and is within walking distance from numerous upscale dining and entertaining establishments. In addition, 371 East Paces will offer patients and tenants convenient access to Atlanta\u2019s major hospital campuses, being strategically situated within a perimeter where only five Class A MOBs have been delivered in the past 15 years.<\/p>\n

Upon completion, the development project will encompass a nine-story building featuring 109,000 square feet of medical office space, with a fourth-floor surgery center, 12,000 square feet of retail space as well as an attached parking garage. The property is currently 25 percent pre-leased, with the current tenant list including Piedmont Medical Care Corp.,\u00a0Peachtree Dermatology and Kalos Surgical Associates.<\/p>\n

\u201cThis project will fill a critical need for medical office space in the Buckhead community, as a maturing local population increasingly seeks a full range of convenient healthcare services,” Matthew Drummond,\u00a0Square Mile principal, said in a prepared statement.”The location is ideal, one block from the Buckhead Atlanta development, allowing residents to take advantage of the Piedmont Healthcare presence.”<\/p>\n

Image courtesy of Cushman & Wakefield<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Square Mile Capital Management LLC has originated the loan on behalf of developer, The Loudermilk Cos.<\/p>\n","protected":false},"author":1055,"featured_media":1004168775,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21782,21825,21754,21742,21747],"tags":[32799,34355,33318,34354],"class_list":["post-1004168769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-development","category-finance","category-medical-office","category-latest","category-office","tag-cushman-wakefield","tag-matthew-drummond","tag-square-mile-capital-management","tag-the-loudermilk-companies"],"acf":[],"yoast_head":"\nAtlanta Medical Office Development Receives $16M Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/atlanta-medical-office-development-receives-16m-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlanta Medical Office Development Receives $16M Financing\" \/>\n<meta property=\"og:description\" content=\"Square Mile Capital Management LLC has originated the loan on behalf of developer, The Loudermilk Cos.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/atlanta-medical-office-development-receives-16m-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-09T15:27:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:37:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/371-East-Paces.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"880\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelina Croitoru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-medical-office-development-receives-16m-financing\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-medical-office-development-receives-16m-financing\/\",\"name\":\"Atlanta Medical Office Development Receives $16M Financing - 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