CBRE Announces Refinancing for Newly Built, 370-Unit Multifamily Tower in Atlanta

CBRE has arranged a loan for the refinancing of Sora at Spring Quarter, a 370-unit multifamily tower with 12,836 sq. ft. of ground-level retail in Midtown Atlanta.

Mike Ryan, Blake Cohen, and Taylor Crowder with CBRE Capital Markets’ Debt & Structured Finance in Atlanta represented the borrower, Portman Residential and National Real Estate Advisors, in the deal. Apollo provided the 5-year fixed-rate loan.

Located at 1000 Spring Street, the 29-story tower was delivered in January 2024 and is NGBS-Green-Silver certified. It features various floorplans, including studios; 1-, 2-, and 3-bedroom units; two-story townhomes; and 2- and 3-bedroom penthouse units. Unit amenities include condo-style finishes with plank flooring, 10’-12’ ceilings, quartz countertops, gas range cooktops, stainless steel appliances and porcelain tile bathrooms. Community amenities include a 10th-floor pool and terrace, 24-hour gym with fitness studios, infrared sauna and rock-climbing wall, sports simulator, gaming lounge, and a 29th-floor rooftop lounge and sky deck.

“It was a pleasure working with the Portman and National Real Estate Advisors teams to refinance this wonderful asset,” said Blake Cohen, Senior Vice President with CBRE. “Sora is truly a best-in-class project as evidenced by its outperformance relative to the broader Midtown submarket. This opportunity garnered significant interest from the lending community due to the quality of both the asset and sponsorship.”

Situated in the core of Midtown Atlanta, the multifamily tower is part of the broader Spring Quarter mixed-use campus, including the recently completed Ten Twenty Spring and the historic H.M. Patterson Home and Gardens. The tower is also within walking distance of over 250 retail stores, restaurants, and major grocers. The location provides single-turn access to Atlanta’s Downtown Connector and is near the Midtown Marta Station which connects residents to the market’s largest employment centers.