Crescent Lands Financing For Sandy Springs Project
Crescent Communities is moving forward on its planned Central Perimeter apartment project. The firm secured financing for Crescent Perimeter, a 320-unit complex at 5755 Glenridge Road in Sandy Springs within the Lakeside office park complex, from Bluerock Residential. Details of the financing were undisclosed as of press time.
“The job growth in Atlanta, especially in Central Perimeter, has created strong demand for housing,” said Crescent's Kyle Brock, citing recent major tenant relocations, including Mercedes-Benz USA's headquarters, State Farm and The Weather Co. Officials said the project should open by late 2018.
Crescent Perimeter is the second project in the firm's Atlanta pipeline. As we previously reported, Crescent is under contract to buy a 2.2-acre site at North Avenue and Arnold Street in Midtown from Seven Oaks Co. for a project in the heart of the Old Fourth Ward.