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Construction Financing Secured for The Aberdeen

5/5/2008

The First Fidelity Companies and Taz Anderson Realty Co. announce the placement of $56 million in mezzanine and construction debt financing for The Aberdeen, a 12-story luxury condominium tower under construction at 4700 Paces Ferry Road in the heart of Vinings. The loan was placed with a single U.S. pension fund on behalf of Atlanta-based Taz Anderson Realty.

 

"We're pleased to have arranged this transaction on behalf of Taz Anderson Realty," said Kell Martin, Chairman of First Fidelity. "Our success with this project is a reflection of Taz Anderson Realty's sponsorship, the strengths of The Aberdeen itself, and the desirability of the Vinings market."

 

Geoff Anderson, president of Taz Anderson Realty Co., said "this is a testament to the luxury marketplace and we are excited to bringing some of the most sought after luxury penthouses and residences to the metro area."

 

The Aberdeen's 56 luxury residences will be a mix of distinctive two- and -three bedroom homes and penthouses – each averaging 2,800 square feet of space – featuring private amenities, top-of-the-line finishes and unparalleled views of Atlanta skyline. Prices range from $750,000 to more than $2 million.

 

Future residents of The Aberdeen will enjoy the charming, walkable Vinings neighborhood, while maintaining easy access to Hartsfield-Jackson International Airport, the Cobb Energy Performing Arts Centre, and the best shopping and dining locations Atlanta has to offer. An added benefit: An Atlanta address with Cobb County taxes.

 

Each condominium home will feature top-of-the-line finishes, expansive terraces and appliances by renowned manufacturers such as Viking® and Waterworks®.  Other luxury amenities will include a 24-hour security and concierge service, private beverage lockers, an outdoor fireplace and grilling center, a clubhouse lounge, full service health club, catering kitchen, dining/board room and dry cleaning pick-up and delivery.  An 18,000-square-foot outdoor pavilion will be a focal point of the luxury high-rise.  It will feature a putting green, bocce court, and an infinity-edge pool.

 

The Aberdeen has partnered with award-winning Atlanta interior designer Carole Weaks, who is creating a lush and comfortable atmosphere in all the common areas of the luxury development. 

 

The First Fidelity Companies is a privately held, independent real estate investment banking firm that has been a leader in commercial real estate for 40 years.  Established in 1967, First Fidelity specializes in the placement of debt and equity capital, investment brokerage, advisory services, and loan administration on behalf of owners and developers of income producing property.  The firm has been active throughout North America and the Caribbean with significant experience in hospitality, office, retail, multi-family and mixed-use developments.


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