Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Avalon Closes $126.5 Million in Construction Financing
  • USA - English


News provided by

The Wilbert Group

Aug 16, 2013, 08:50 ET

Share this article

Share toX

Share this article

Share toX

The Plaza at Avalon
The Plaza at Avalon

Atlanta, GA (PRWEB) August 16, 2013 -- North American Properties - Atlanta, Ltd. (NAP), developers of Avalon, today announced that construction financing has been closed and vertical construction has begun. NAP, in joint venture with Sarofim Realty Advisors, secured $126.5 million in financing for Phase I, comprised of an $86.5 million syndicated senior loan by Wells Fargo Bank and Bank of America accompanied by a $40 million mezzanine loan provided by JP Morgan Asset Management. Eastdil Secured arranged the financing package.

Avalon is the first project of its scope to start construction since The Great Recession in the entire United States. It’s a very exciting time.

Post this

Site work is well underway, and vertical construction has begun, one month ahead of schedule. October 2014 will mark the grand opening of Avalon, the Southeast’s preeminent experiential development — a place where specialty retail, entertainment, restaurants, residences, offices, hotels and public spaces come together to create a truly unique experience.

Avalon’s Phase I retail space is now 75 percent leased. Recently added retailers include:
Giovanni Di Palma's Antico Napoletana, Bantam + Biddy by Chef Shaun Doty, Tommy Bahama, Vineyard Vines, Exhale Spa, West Elm, Kinnucan’s Specialty Outfitter, Sage Boutique, Free People, Janie and Jack, C. Wonder and L’Occitane

“The collection of restaurants and retailers we have assembled is phenomenal,” said Mark Toro, managing partner of NAP. “I can’t wait to see the first buildings coming out of the ground. Avalon is the first project of its scope to start construction since The Great Recession in the entire United States. It’s a very exciting time.”

Here is a look at the most recent milestones the NAP team has reached at Avalon:

• Retail Leasing: In addition to the retailers listed above, Avalon has executed leases with Anthropologie, Arhaus, Athleta, Banana Republic, Bocado Burger Bar, Cru Food and Wine, Destination Maternity, Dry Bar, Everything But Water, Fab’rik, a new Chef Ford Fry concept, Flywheel, GAP, Gymboree, Kona Grill, Lululemon, Luxury Nail Spa, Marlow’s Tavern, Mitchell Gold + Bob Williams, Orvis, Paper Source, Pinkberry, PNC Bank, Regal Cinemas, Ted’s Montana Grill, Van Michael Salon and Whole Foods. Pre-leasing for the Phase II luxury retail expansion is already well underway, and Phase II is scheduled to open in Fall 2015.

• Gigabit Community: Avalon will be the first mixed-use gigabit community in the Southeast. Using an all-fiber-optic smart infrastructure design known as “Fiber-to-the-Premises” technology, Avalon will deliver residences, guests and tenants internet speeds over 100 times greater than typical offerings, along with digital HD television and VOIP technology. Avalon’s technology platform will have the same speed and capacity as Google Fiber's initiatives in Kansas City and Austin.

• For-sale Residential: Town urbanist Lew Oliver, builder Monte Hewett Homes and Atlanta Fine Homes Sotheby’s International have teamed up to design, build and sell the single-family homes at Avalon. The team has gathered a waiting list of more than 600 prospective homebuyers for the 101 homes to be built. Initial concepts for the homes are available by contacting Atlanta Fine Homes Sotheby’s International. The first peek of model homes will be available in June 2014, and in October 2014 the first resident will move in.

• Luxury Rental Homes: 250 luxury rental homes will be built above the Phase I retail, and are as highly sought after as the single-family offering. The first units will be available for occupancy in January 2015.

• Office Leasing: More than 50 percent of the office-over-retail has been leased. New tenants include Wakefield Beasley and Associates and Integrated Care Management. In addition, there has been tremendous interest in the 750,000 square feet of build-to-suit space planned in Phase II from employers seeking to provide an unparalleled work environment for their associates, while future-proofing their operations with Avalon's fiber-to-the-premises technology. Greenstone Properties is leasing the Phase I office over retail space, and will develop and lease the Phase II mid-rise office buildings.    

• Hotels: NAP is rapidly advancing two hotel opportunities planned for Phase II of Avalon. A boutique hotel will be located over retail, and NAP is in discussions with several brands to create a unique offering to extend the Avalon brand. In addition, NAP has responded to a City of Alpharetta request regarding a public-private partnership for a conference center and full-service hotel. Stormont Hospitality Group is working with NAP to advance the hospitality aspects of Avalon.

• Construction: Hoar Construction is the general contractor for Avalon, with Plateau Excavation serving as site-work subcontractor and Precision Concrete as concrete subcontractor. Benning Construction will build Regal Cinemas, and Young Contracting will build Whole Foods. NAP’s construction division, NAP Contracting LLC, will construct the multifamily component.

About Avalon:
Avalon is a new experience in the timeless art of living well. In the heart of Alpharetta, this sustainably-designed, 86-acre development with more than 500,000 square feet of retail, a 12-screen theater, boutique and full-service hotels, Class A office, single-family residences and luxury rental homes infuses resort-level hospitality throughout a walkable, seamlessly connected community of shopping, dining, entertainment, living, and working. It’s more than just another place to go, it’s a place to be—a hub of local art and activity that delivers the luxury of the modern South. At 2.4 million square feet and more than $600 million, Avalon is one of the largest projects currently underway in the United States. You can find more updates on Avalon at its website, Facebook page, Instagram or Twitter profile.

About North American Properties:
Founded in 1954, North American Properties is a privately-held, multi-regional real estate operating company that has acquired, developed and managed more than $4.5 billion of retail, multifamily, mixed use and office properties across the United States. Headquartered in Cincinnati, with offices in Atlanta, Dallas and Fort Myers, Fla., the company has developed 19 million square feet of retail and 13,000 apartment units in 13 states. Currently, North American Properties has eight projects totaling more than $480 million of development in five states. In metro Atlanta, North American Properties owns Atlantic Station, Avalon and BOHO4W. For more information, please visit naproperties.com.

Elizabeth Hagin, The Wilbert Group, http://experienceavalon.com/, (678) 642-4301, [email protected]

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.