Tivoli Raising Money?
Wanna invest in Tivoli's planned 13th Street project? Let brokers at Cushman & Wakefield know.
We learned that Tivoli Properties has tapped Cushman & Wakefield to help raise equity for what it's calling Yoo on the Park, a high-rise apartment complex off 13th Street near Juniper. We stopped by this morning and grabbed a shot of what's there now. (The air-conditioning bill must be ridiculous.) Tivoli's Scott Leventhal and C&W officials declined to comment, but C&W does have a web page dedicated to information on the investment potential. We reported in May that Tivoli rescued its property that it almost lost to foreclosure with the help of an equity partner.
Tivoli and its partner paid upwards of $6M for the nearly one-acre parcel off 13th Street near Piedmont Park. The $3M original loan was originated by Stockbridge-based High Trust Bank, which was taken over by the FDIC in 2011. We reported earlier this year that Tivoli—developer of the Aqua in Midtown condo (above)—planned to build a 252-unit apartment tower at the site and could move forward by this spring.